India New Issue-Kotak Mahindra Prime accepts bids for multiple tenor bonds - traders

India's Kotak Mahindra Prime has accepted bids worth an aggregate of 2.10 billion rupees ($25.38 million) for bonds maturing in five years and via reissue of zero-coupon bonds maturing in October 2025, three merchant bankers said on Monday.

The non-banking finance company has accepted bids worth 250 million rupees for bond reissue and will offer a yield of 8.05%.

It has accepted bids worth 1.85 billion rupees for five-year bonds at an annual coupon of 8.05%, and the issues will close for subscription on Tuesday, they said.

The company invited bids from bankers and investors on Monday and they are rated AAA by CRISIL.

Earlier this month, the company raised an aggregate of 1.75 billion rupees via reissuance of 7.8779% May 2025 bonds and zero-coupon bonds maturing in October 2025.