NEW DELHI : Yoga guru Baba Ramdev’s Patanjali Ayurved Ltd. is planning its first rupee bond issuance, seeking to benefit from the lowest borrowing costs since 2004.
The manufacturer of ayurveda-based skincare and food products will seek bids Thursday for as much as ₹250 crore of notes maturing in three years, according to a person familiar with the matter.
The debt, rated AA- by Brickwork, carries a semi-annualized coupon of 10.1%, the person said, asking not to be identified as the details aren’t public.
The interest payable is higher than the 6.85% on AA rated debt with similar maturity. Patanjali’s liquidity has been constrained due to increased investments, capital expenditure and also lower profitability, Brickwork said in a March 14