Godrej Agrovet to issue multiple tenor CPs -traders

MUMBAI (Reuters) - India's Godrej Agrovet plans to raise funds from sale of commercial papers maturing in two months as well as in three months, three merchant bankers said on Monday.

The agri-business company will offer a yield of 6.10% on two-month papers and 6.20% on three-month notes and it has received aggregate commitments of around 2 billion rupees ($25.16 million), they said.

The notes of the company are rated A1+ by ICRA.

($1 = 79.5070 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia; Editing by Neha Arora)