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Aditya Birla Housing Finance, Tata Capital, Federal Bank to raise capital

Reliance Jio, ICICI Securities, and Godrej Industries to issue 3-month CP

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BS Web Team New Delhi

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Aditya Birla Housing Finance, Tata Capital, and Federal Bank are eyeing to raise fresh capital from the market through different instruments. According to the news agency Reuters, Aditya Birla Housing Finance will raise at least Rs 100 crore ($12.2 million) through bonds maturing in five years.

The company will pay a coupon of 8.10 per cent on this issue, for which it has invited bids from investors and bankers on Tuesday. The issue also has a greenshoe option to retain an additional subscription of up to Rs 210 crore.

The bonds are rated AAA by Icra and CRISIL and the issue will be settled later this week.

Earlier in November, the housing finance company raised Rs 250 crore through bonds maturing in three years at a coupon of 7.95 per cent.

Tata Capital, on the other hand, is planning to raise Rs 100 crore ($12.18 million) each through the reissue of two bonds -- 7.95 per cent in February 2028 and 8.1165 per cent in May 2026.

It has invited bids for both the reissuances from investors and bankers on Tuesday. The reissuances have a greenshoe option to retain an additional subscription of Rs 400 crore each.

The bonds are rated AAA by Icra and the issues will be settled later this week.

In February, the company had raised an aggregate of Rs 363 crore via multiple-tenor bonds.

Private lender Federal Bank will raise funds through a sale of certificates of deposit maturing in 11 months.

It will offer a yield of 7.48 per cent on the issue, which has received commitments worth around Rs 1,000 crore ($121.9 million).

The notes are rated A1+ by CRISIL and the terms of the deal were set on Friday. It will mature on March 20, 2024.

Reliance Jio Infocomm, ICICI Securities,  and Godrej Industries to issue 3-month CP

Reliance Jio Infocomm plans to raise funds from the sale of commercial papers maturing in three months, three merchant bankers said on Monday. The company, part of Reliance Industries Ltd, will offer a yield of 7.20% on the issue and has received commitments worth around Rs 250 coreso far, the bankers said.

ICICI Securities 

 ICICI Securities plans to raise funds by selling commercial papers maturing in three months, three merchant bankers said on Monday. The company will offer a yield of 7.32% on the issue and has received commitments worth around Rs 100 crore ($12.21 million) so far, the bankers said. The notes are rated A1+ by Crisil.

Godrej Industries 

Godrej Industries Ltd plans to raise funds through the sale of commercial papers maturing in three months, three merchant bankers said on Monday. The company will offer a yield of 7.24% on the issue and has received commitments worth about Rs 750 million ($9.16 million) the bankers said.

ICICI Home Finance to issue 20-month bonds 

ICICI Home Finance Co Ltd plans to raise at least Rs 150 crore ($18.32 million) through sale of bonds maturing in 20 months, three merchant bankers said on Monday.

The housing finance company has invited bids from bankers and investors on Wednesday, the merchant bankers said. The notes are rated "AAA" by CRISIL and ICRA and the issue will be settled later this week. The issue, which has a greenshoe option to retain an additional 1.10 billion rupees, will mature in December 2024.

In March, the company raised 650 million rupees selling bonds maturing in 15 months at an annual coupon of 8.00%.

Dabur to issue near 4-year bonds 

Dabur India Ltd plans to raise Rs 250 crore ($30.53 million) through sale of bonds maturing in three years and 11 months, three merchant bankers said on Monday.

The company has invited bids from bankers and investors for the issue on Wednesday, they said. The notes are rated AAA by ICRA and the issue will be settled later this week.

The issue will mature in December 2024 and this is the first issue by the company in 18 months.

In October 2021, Dabur India had raised Rs 250 crore by selling bonds maturing three years at an annual coupon of 4.95%.

(With agency inputs)

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First Published: Apr 24 2023 | 1:22 PM IST

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