Godrej Industries to issue 3-month CP - traders

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

The company will offer a yield of 7.43% on the issue and has received commitments worth about 750 million Indian rupees ($9.20 million) so far, the bankers said.

The notes are rated A1+ by ICRA.

($1 = 81.5220 Indian rupees)