ICICI Home Finance is planning to raise ₹5 billion (approximately $59 million) through the issuance of five-year bonds with an interest rate of 7.36%, as reported by market sources. The non-banking financial company is targeting ₹3.75 billion with an additional greenshoe option of ₹1.25 billion.

Bids for these bonds will be accepted on the Bombay Stock Exchange’s electronic bidding platform on Wednesday from 10:30 AM to 11:30 AM India time. ICICI Bank and HDFC Bank are reportedly the anchor investors in this bond issuance.

AK Capital Services is expected to act as the arranger for the bond sale. The senior bonds have received a AAA (stable) rating from Crisil and Icra. As of now, the issuer has not made any official announcement regarding the planned bond sale.