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India's Kotak Mahindra Prime accepts bids on bond re-issue - traders

MUMBAI (Reuters) - India's Kotak Mahindra Prime has accepted bids worth 2.50 billion rupees ($31.58 million) on its reissuance of 6.55% April 2025 bonds, three merchant bankers said on Friday.

The company will offer a yield of 7.33% to investors and had invited bids from bankers and investors earlier on Friday, they said.

The bonds are rated AAA by CRISIL, and the issue will close for subscription on Monday.

($1 = 79.1560 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Vidya Ranganathan)