MUMBAI, Jan 17 (Reuters) - India's Shriram Finance has accepted bids worth $750 million for issuance of U.S. dollar denominated bonds maturing in three years and three months, a company official said.

The shadow lender will pay a semi-annual coupon of 6.6250% to the investors of the social bond, sharply lower than the 7.00% initial guidance, said Umesh Revankar, executive vice chairman at Shriram Finance.

"There was strong demand from across the investor spectrum, including large investors and marquee names. The total bid book was over $2.7 billion, which helped us in reducing the coupon after opening at 7%," Revankar told Reuters.

Barclays, BNP Paribas, Citigroup, DBS Bank, Deutsche Bank, Emirates NBD Capital, HSBC (B&D), J.P. Morgan, MUFG, SMBC Nikko and Standard Chartered Bank are the joint global coordinators and bookrunners for the issue.

The funds will be used to support social projects and other activities allowed under the Reserve Bank of India's external commercial borrowing guidelines, a term sheet showed.

Fitch Ratings and S&P Global are expected to rate the issue BB, which is in line with their issuer ratings for the company. (Reporting by Dharamraj Dhutia; Editing by Dhanya Ann Thoppil)