India New Issue-Godrej Agrovet to sell commercial papers

The agri-business aims to raise funds
calendar icon 5 January 2023
clock icon 1 minute read

India's Godrej Agrovet plans to raise funds by selling commercial papers maturing within this month, reported Reuters, citing three merchant bankers on Thursday.

The agri-business company will offer a yield of 6.40% on these papers and it has received commitments of around 250 million rupees ($3.03 million), the bankers said.

The notes are rated A1+ by ICRA.

Godrej Agrovet is a food and agri conglomerate dedicated to improving the productivity of Indian farmers by innovating products and services that sustainably increase crop and livestock yields.

($1 = 82.4370 Indian rupees)

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