India New Issue-IFC buys Grasim Industries' debut sustainability linked bonds

India's Grasim Industries said on Tuesday it has raised 12.50 billion rupees ($150.57 million) through the sale of its first-ever sustainability-linked bonds, subscribed by International Finance Corp. The bonds carry a duration of 10 years and were directly placed with the IFC, the financial institution told Reuters in an email without disclosing the coupon amount. Grasim Industries did not reply to a Reuters email seeking the details on the coupon.