Bond issuance gone up by 50.23%
Indian corporate issued bonds worth Rs 31,521.83 crore in the July-August period, up 50.23 percent year-on-year, provisional data from Prime Database showed. The top issuer in August was Housing Development and Finance Corporation (HDFC), which raised Rs 2,450 crore. In July, the top issuer was Power Finance Corporation, which raised Rs 4,335 crore.
Infrastructure bonds issued by banks were a big contributor in August. ICICI Bank, the country’s largest private sector bank, last month issued 10-year infrastructure bonds worth Rs 2,000 crore and, earlier in July, looked to raise seven-year infrastructure worth Rs 500 crore with a green-shoe option of Rs 500 crore. Kotak Mahindra Bank, too, raised Rs 300 crore through infra bonds in August.
The issue of bonds has gone up in comparison to the last year. HDFC was among the top issuer during the month of August. The issuing of these infrastructure bonds is to benefit the in the Indian corporate scenario. A total of Rs 31,521.83 crore worth bond has been issued by the several corporate companies in the country. This has gone up by the last year.
Source: The Financial Express
bonds, HDFC, Housing Development and Finance Corporation, infrastructure bonds, Kotak Mahindra Bank, Power Finance Corporation
