The bonds carry an unconditional and irrevocable guarantee from the Kerala state government
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MAHINSHA S
Kerala Infrastructure Investment Fund Board (KIIFB) plans to raise ₹1500 crores ($171.71 million), which includes a greenshoe option of ₹10 billion through sale of separately transferable redeemable principal part (STRPP) bonds with four- to 10-year maturities, two merchant bankers said on Monday.
The company will pay a coupon of 9.67%, payable on a quarterly basis, and had invited bids from bankers and investors for the issue earlier in the day, they said.
The bonds carry an unconditional and irrevocable guarantee from the Kerala state government.
KIIFB did not immediately reply to a Reuters email for comment. Here is the list of deals reported so far on August 4 Issuer Tenure Coupon (in %) Issue size (in Bidding Rating bln rupees)* date KIIFB 10 years 9.67 (payable 5+10 August 5 AA(CE) (India quarterly) Ratings) *Size includes base plus greenshoe for some issues.
Published on August 4, 2025