Shree Cement to issue 2-month CP - traders

MUMBAI (Reuters) - India’s Shree Cement plans to raise funds selling commercial papers maturing in two months, three merchant bankers said on Wednesday.

The company will offer a yield of 6.78% on this issue, and has received commitments worth around 1 billion rupees ($12.29 million), the bankers said.

The notes are rated A1+ by CRISIL.

($1 = 81.3800 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Janane Venkatraman)