Around nine companies are planning to issue bonds today to raise up to Rs 4,936 crore, money market sources said. These companies include Shree Cement Ltd, REC, and HDB Financial Services Ltd, among others.
Bidding for these bonds will take place on the electronic bidding platform of BSE and the National Stock Exchange of India.
Of the total amount, REC plans to raise up to Rs 2,000 crore, which includes Rs 1.600 crore in greenshoe through bonds. These bonds are rated ‘AAA’ by CRISIL and ‘AA+’ by CARE ratings.
On September 22, Moneycontrol reported that National Bank for Agriculture and Rural Development (NABARD) and REC plans to issue bonds next week to raise Rs 5,000 crore.
Further, Godrej Industries plans to raise funds up to Rs 500 crore, including Rs 250 crore in greenshoe through 41 months bonds and NNP Construction Pvt Ltd to raise Rs 551 crore via 60 months bonds.
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On the other hand, HDB Financial plans to issue two bonds maturing in 39 months and 12-month-285-day. Through both these bonds, the company plans to raise up to Rs 300 crore.
Further Ecap Equities Ltd is to raise Rs 60 crore each through three bonds, Keertana Finserv is to raise Rs 50 crore, and HDFC Ergo General Insurance Co Ltd is to raise 320 crore.
All these bonds are rated AA and above by the rating agencies.
On September 22, Tata Capital Financial Services Ltd, Shriram Housing Finance Ltd, Aye Finance Pvt Ltd, State Bank of India, Marwadi Shares and Finance Ltd, and Edel Finance Co Ltd raised funds through bonds.
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