Fundraising activity in debt market gathers speed ahead of festival season

Nabard, Tata Capital, Mahindra Finance to tap into market

Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore.

Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, “The market likes certainty, the market will gain clarity after the US Federal Reserve’s (Fed’s) policy. Most of the issuances are from small NBFCs, except Nabard which is after the Fed’s outcome,