Tata Capital Financial to issue 3-month CP - traders

India's Tata Capital Financial Services plans to raise funds through the sale of commercial papers maturing in three months, three merchant bankers said on Tuesday.

The non-banking financial company will offer a yield of 7.50% on the issue and has received commitments worth around 5 billion Indian rupees ($61.17 million) so far, the bankers said.

The notes are rated A1+ by CRISIL.

($1 = 81.7460 Indian rupees)