MUMBAI: Mahindra Lifespace plans to raise Rs 5 billion ($92.09 million) through a triple tranche bond at 10.78 per cent, a source with direct knowledge of the deal said. 

The firm will raise Rs 1.25 billion through three-year zero coupon bonds, said the source. 

The real estate firm will raise Rs 1.75 billion through four-year low coupon bonds and Rs 2 billion via five-year low coupon bonds with redemption at premium, the source said. 

The pay in for the deal is scheduled for April 2, said the source.