Godrej Industries to issue 3-month CP - traders

India's Godrej Industries GODREJIND plans to raise funds through sale of commercial papers maturing in three months, three merchant bankers said on Tuesday.

The company will offer a yield of 7.45% on the issue and has received commitments worth about 750 million rupees ($9.17 million) so far, the bankers said.

The notes are rated A1+ by ICRA.

($1 = 81.7490 Indian rupees)