India Inc raises over ₹17.5k crore from market via bonds on Tuesday

Indian corporates raised over ₹17,500 crore from the domestic debt capital market through bonds on Tuesday, with Bharti Telecom raising ₹10,500 crore in two tranches — making it the largest bond issuance by an Indian company in the domestic market this financial year (FY26). Other marquee issuers in the market included Bajaj Finance, Aditya Birla Capital, Poonawalla Fincorp, among others.

 

Bharti Telecom, the holding company of Bharti Airtel, raised ₹5,250 crore at 7.45 per cent through bonds maturing in December 2028. Additionally, it raised another ₹5,250 crore at 7.35 per cent through bonds maturing in October 2027.

 

Of the ₹10,500 crore raised by the company, ₹3,150 crore was already committed by anchor investors. The remaining ₹7,350 crore attracted bids worth ₹18,015 crore from other investors. Bonds maturing in October 2027 received ₹9,165 crore in bids, while those maturing in December 2028 attracted ₹8,850 crore.

   

Separately, Bajaj Finance — India’s largest non-banking financial company (NBFC) — raised ₹1,875 crore through bonds at coupon rates ranging from 7.1 per cent to 7.45 per cent. It reissued two tranches of bonds worth ₹1,375 crore and raised ₹500 crore through a fresh issuance of 10-year bonds at 7.45 per cent.

 

Another marquee issuer, Aditya Birla Capital, raised ₹750 crore at 7.31 per cent through bonds maturing in 2028.

 

Adar Poonawalla’s Poonawalla Fincorp raised ₹3,000 crore in two tranches — ₹2,500 crore at 7.55 per cent through bonds maturing in March 2027, and ₹500 crore at 7.53 per cent through bonds maturing in September 2027.

 

National Capital Region (NCR)-based real estate developer Signature Global also raised ₹875 crore at 11 per cent through bonds maturing in January 2029.

 

“Post the dovish monetary policy and several new measures announced by the RBI to support economic growth, along with surplus liquidity in the banking system, the bond market saw very strong activity today. On the EBP platform alone, more than ₹19,000 crore of bonds were issued, with around ₹17,000 crore successfully subscribed. Most of these issues were for shorter tenures of less than five years, showing a clear short-term bias,” said Venkatakrishnan Srinivasan, founder and managing partner, Rockfort Fincap LLP.

 

After a surge in corporate bond issuances in the first quarter (Q1FY26), activity slowed in the second quarter (Q2FY26) as borrowing costs climbed. However, the market expects a rebound soon, with easing yields expected to rekindle investor interest in the bond market.

 

“After a sluggish second quarter, the bond market is now clearly gaining momentum again in the third quarter. The combination of positive policy measures, expectations of a possible repo rate cut in December, easing inflation, and ample system liquidity is helping revive confidence,” Srinivasan said, adding that the complete absence of bank bond issuances since April has dampened overall corporate bond market activity so far this fiscal (FY26).

 

“However, with news that one of the major banks is likely to enter the market soon with a large issue size, we expect many other banks to follow suit. This should help boost overall fund-raising through bonds and drive faster growth in the current quarter,” he further said.