MUMBAI: India's Adani Airport Holdings plans to raise 1.50 billion rupees ($17.96 million) through the sale of bonds maturing in four years, three bankers said on Monday.

The company will pay an annual coupon of 9.95% on this issue and has invited bids from bankers and investors on Tuesday, they said.

The coupon would be stepped up by 25 basis points for every notch rating downgrade.

Here is the list of deals reported so far on June 10: Issuer Tenure Coupon (in %) Issue size (in Bidding Rating bln rupees)* date Adani Airport 4 years 9.95 1.50 June 11 A+ (Crisil, Holdings India Ratings) 10 years To be decided 5+25 June 11 AAA (Crisil, IRFC Icra) *Size includes base plus greenshoe for some issues ($1 = 83.5030 Indian rupees) (Reporting by Dharamraj Dhutia; Editing by Savio D'Souza)