Auro Realty Seeks $225M Bond in India for Acquisition Fund
MUMBAI: Auro Realty, the real estate division of Aurobindo Group, which also includes pharmaceutical producer Aurobindo Pharma, aims to raise ₹20 billion (approximately $225.41 million) via bond sales to finance a significant acquisition, according to two merchant bankers on Tuesday. The company plans to issue two-year and four-year bonds with coupon rates between 11% and 15%, the bankers noted. “This financing at the promoter level is intended for the acquisition of several assets, including Hotel Taj Banjara Hyderabad,” commented one of the bankers. The Auro Realty group has not responded to a Reuters email for further information, and the bankers,…