NBFCs raise over ₹7,260 cr through bond issuances; SIDBI plans ₹8,000 cr

Tata Capital, Bajaj Housing Finance and Jio Credit led bond issuances on Monday, while SIDBI announced plans to raise up to Rs 8,000 crore through bonds this week

Non-banking financial companies raised more than Rs 7,260 crore through corporate bond issuances on Monday, led by Tata Capital, Bajaj Housing Finance and Jio Credit, while the primary market pipeline remained active, with the Small Industries Development Bank of India (SIDBI) announcing plans to raise up to Rs 8,000 crore through bonds on Wednesday.

 

Tata Capital emerged as the largest issuer of the day, raising Rs 2,750 crore through three-year bonds maturing in July 2031 at a 7.88 per cent coupon. The company also raised Rs 1,000 crore through another tranche maturing in June 2029 at an 8.15 per cent coupon.

 

 

Bajaj Housing Finance mobilised Rs 1,500 crore through bonds maturing in September 2029 at a 7.53 per cent yield, while Jio Credit raised Rs 965 crore through three-year notes carrying a 7.78 per cent coupon.

 

L&T Finance raised Rs 1,000 crore across two issuances: Rs 500 crore maturing in June 2031 at a 7.93 per cent yield and another Rs 500 crore maturing in September 2029 at a 7.84 per cent coupon. Nido Home Finance raised Rs 50 crore through one-year bonds at a 10.48 per cent yield.

 

Separately, SIDBI has invited bids for an unsecured non-convertible debenture (NCD) issue of up to Rs 8,000 crore on July 8 through the BSE Electronic Book Provider (EBP) platform. The issue comprises a base size of Rs 2,000 crore and a greenshoe option of Rs 6,000 crore.

 

The bonds will have a tenor of three years, three months and 30 days, maturing on November 9, 2029, with annual interest payments. The proposed issue has been rated AAA/Stable by both CARE Ratings and Crisil. It will follow the uniform yield allocation method, with a minimum application size of Rs 1 lakh and multiples thereof.