MTNL, ICICI Home Finance plan to float bonds worth Rs 956 cr on March 5

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26 Aug, 2025 12:21

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State-run Mahanagar Telephone Nigam Ltd (MTNL) and ICICI Home Finance plan to issue bonds worth Rs 956 crore on March 5, as per market sources.

MTNL will raise up to Rs 556 crore, which includes Rs 356 crore in green shoe through 10-year government of India’s guaranteed bonds, and ICICI Home Finance will raise up to Rs 400 crore, which includes Rs 100 crore in greenshoe through 2-year-11-month-27-day bonds.

Bidding for MTNL’s bonds will take place between 10:30 AM and 12 PM, and ICICI Home Finance’s bonds bidding will place between 10:30 AM and 11:30 AM. Bidding for both bonds will be held on electronic bidding platform of BSE.

Pay in date of both bonds is on March 6. Pay in date is a date on which exchange of bonds and money takes places between issuers and investors.

MTNL’s bonds have been rated ‘AAA’ with ‘Stable’ outlook by CARE and India Ratings, and ICICI Home Finance’s bonds have been rated ‘AAA’ with ‘Stable’ outlook by CRISIL and CARE.

The minimum application size during the bidding for ICICI Home Finance’s bonds is Rs 1 crore and in multiples of Rs 1 lakh thereafter. Similarly, MTNL bonds' minimum application size is Rs 1 lakh and in multiple of Rs 1 lakh.

On March 1, SBFC Finance, Hinduja Housing Finance, Aliens Developers Pvt Ltd, and Vadodara Municipal Corporation raised funds worth Rs 357 crore through bonds.

Vadodara Municipal Corporation raised Rs 100 crore through green municipal bonds maturing in five years at a coupon rate of 7.90 percent, officials told Moneycontrol.

The bidding for the bonds took place on electronic bidding platform of BSE.