Jio Credit on Wednesday raised 10 billion Indian rupees through its maiden bond issuance, Moneycontrol reported the same day, citing people familiar with the matter.
The bonds bear an interest rate of 7.19% and will mature on March 15, 2028, the report said, citing the source.
The Jio Financial Services (BOM:543940, NSE:JIOFIN) subsidiary accepted the base issue of 5 billion rupees and a greenshoe option of another 5 billion rupees after receiving bids three times the base offer, Moneycontrol reported, citing the source.
ICICI Securities Primary Dealership served as the sole arranger of the issuance, the source reportedly said.
Shares of Jio Financial Services rose more than 2% at market close on Thursday, May 15.
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