MUMBAI: India's HDB Financial Services Ltd plans to raise at least 250 million rupees ($3.15 million) by selling bonds maturing in three years and one month, two merchant bankers said on Wednesday.

The non-banking finance company will pay an annual coupon of 7.50% on this issue and has invited commitments from bankers and investors on Thursday, they said.

The notes are rated AAA by CRISIL and the issue has a greenshoe option to retain an additional 9.75 billion rupees.

The issue will close for subscription on Friday and will mature on Sep. 23, 2025. ($1 = 79.3010 Indian rupees)

(Reporting by Dharamraj Lalit Dhutia Editing by)