 "Business practices of big-data firms have been under the government scanner in the recent past")
Bond market participants were baffled by an unusual deal done by government-backed REC Ltd, which raised Rs 1,247 crore from the market for bonds maturing in two years, seven months and 15 days.
The AAA-rated public infrastructure finance company offered 8.5 per cent for the money.
The deal is unusual because just two days ago, NTPC, another AAA-rated government firm, raised a three-year fund at 7.93 per cent.
The plan of REC was to raise Rs 500 crore, with a greenshoe option of another Rs 750 crore. Top lead managers for the deal were HDFC Bank, PNB Gilts and Axis
