IndianOil-Adani Gas Plans $161 Million Convertible-Bond Sale (1)

IndianOil-Adani Gas Pvt. is planning to raise as much as 13.78 billion rupees ($161 million) from the sale of convertible bonds, according to people familiar with the matter, in what could be one of the largest such deals in India this year.

The company, a joint venture between state-run Indian Oil Corp. and Adani Total Gas Ltd. of billionaire Gautam Adani, plans to raise the money in four tranches via compulsorily convertible debentures that will be converted into equity on a specified date, one of the people said, asking not to be identified as the details are private.

The ...