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Indian billionaire Gautam Adani's flagship firm is slated to raise up to 10 billion rupees ($112.6 million) through the private placement of two-year and six-month bonds, two bankers said on Monday, marking its first such fundraising since 2023. The company will pay a semi-annual coupon of 8.70% on the issue and has invited commitment bids on Tuesday. The bonds will be placed directly with investors, with large mutual funds seen as likely buyers. Adani Enterprises did not immediately respond to a Reuters request for comment. The bankers declined to be named as they are not authorised to speak to the media. The notes are rated AA- by ICRA and follow a retail bond sale conducted three months ago. Adani Enterprises raised 10 billion rupees in July via a public issue of two-, three- and five-year bonds at coupons of 8.95%-9.30%, after raising 7 billion rupees through three-year paper at 10% in October 2023. Last month, India's markets regulator, the Securities and Exchange Board of India, dismissed some of the allegations of stock manipulation against Gautam Adani and his group of companies made by U.S. short-seller Hindenburg Research in 2023. SEBI is still looking into more than a dozen allegations on the group and its offshore funds that they broke securities regulations, sources had told Reuters. While the conglomerate denied wrongdoing, the accusations led to a $150-billion sell-off of the group's stock. Shares have since recovered and the group has regularly dismissed all allegations. ($1 = 88.7800 Indian rupees)