Andhra Pradesh State Beverages Corp is planning to come up with the second tranche of its bond issue via a private placement over the next few weeks, the company's official said on Friday.
The firm may look to raise around ₹3,700 crore ($457.75 million), which will complete the borrowing target for this financial year, the official said.
"We could tap the market in late-November or early-December," the official said.
The notes carry a corporate guarantee from the Andhra Pradesh government and are provisionally rated AA(CE) by India Ratings.
In June, the company raised ₹8,305 core through 10-year bonds at a coupon of 9.62 per cent, payable quarterly.