The company will pay an annual coupon that is five basis points higher than one-year MCLR rate of State Bank of India and currently works out to be 7.75%, they said.
It has invited commitment bids for Thursday from bankers and investors, and the issue will close for subscription on Friday.
The notes are rated AA by India Ratings.
($1 = 81.7050 Indian rupees)
(Reporting by Dharamraj Lalit Dhutia,; Editing by Sherry Jacob-Phillips)