New Delhi aims to raise Rs 32,000 crore ($3.81 billion), which includes Rs 22,000 crore of the new 6.79 per cent 2034 bond that will replace the existing benchmark note soon
The issue size is Rs 2,000 crore, with a green shoe option of Rs 3,000 crore
The benchmark 10-year bond yield ended at 6.8293% on Monday, compared with its previous close of 6.8193%
High demand, lower costs drive global fundraising surge
The benchmark bond yield may drop to 6.30 per cent by March end, on strong foreign inflows and rate cuts from the central bank
The supply crunch comes just as Indian bonds have emerged as top performers among major Asian nations, driven by their recent inclusion in global debt indexes
South Korean bonds to be added to FTSE World Government Bond Index
Global index provider FTSE Russell said it will include India's sovereign bonds in the Emerging Markets Government Bond Index from September 2025, potentially drawing billions of dollars into bonds
"The companies may tap the market before the end of this month, once it judges the pulse of investors in upcoming roadshows," one of the bankers said
Expectations of a 25 bps cut in November are at 88 per cent, while bets of no cut rose to 12 per cent from less than 10 per cent a day ago
By repurchasing its own outstanding bonds from the market before they mature, the government reduces its liabilities and strengthens its fiscal position
Trust Investment Advisors and IIFL Securities are the lead managers to the home finance company's issue, which is rated AA by Crisil and India Ratings
The issuance had a base issue size of Rs 1,000 crore, with a greenshoe option of Rs 4,000 crore. The company received bids worth Rs 33,670 crore, nearly 34 times the base issue
SBI Equity Hybrid Fund, Aditya Birla Finance and Aditya Birla Sunlife Mutual Fund are the anchor investors and have invested Rs 285 crore, Rs 100 crore and Rs 50 crore, respectively
The company is in talks with Deutshe Bank for this new 21.2 billion rupees debt raise and the final amount could be higher, at around 24 billion rupees
Traders will also focus on fresh debt supply, while also remaining cautious after rise in US Treasury yields
The world's top oil exporter raised $6 billion from a three-tranche bond sale in July
The state-owned lender will raise Rs 2,500 crore through additional Tier-I bonds in Q3
The bonds have received a AAA rating from India Ratings
US Fed rate cut: Asian equities, however, saw meaningful gains Thursday morning where Indian stock market hit fresh record highs