Trust Investment Advisors accepts bids for 7-yr bonds -traders

India's Trust Investment Advisors has accepted bids worth 850 million rupees ($10.4 million) for bonds maturing in seven years, three merchant bankers said on Monday.

The company will pay an annual coupon of 8.90% on the issue, for which it had invited bids from investors and bankers earlier in the day, they said.

The bonds, which have a provisional AA ratings from Infomerics and will close for subscription later this week.

($1 = 81.5130 Indian rupees)