More Stories

Informist, Tuesday, May 27, 2025

 

By Ashna Mariam George and Vaishali Tyagi

 

MUMBAI – Axis Bank retained its position as the top arranger of corporate bonds for the third consecutive month in April, according to data compiled by Informist. The country's third largest private sector bank facilitated the raising of INR 154.46 billion through 23 deals in April. It included 11 solely handled deals for Bajaj Finance, Kotak Mahindra Prime, NIIF Infrastructure Finance, LIC Housing Finance, Bajaj Housing Finance, CESC, and Godrej Housing Finance. 

 

HDFC Bank climbed to the second spot in April from fourth in the previous month, arranging 13 deals worth INR 120.43 billion. The country's largest private sector bank was the sole arranger for four deals of Bajaj Finance, Kotak Mahindra Prime, and Tata Capital Housing Finance aggregating INR 78.35 billion. 

 

ICICI Bank retained the third position after it helped mobilise INR 90.85 billion through 24 deals. Of this, the private sector lender solely arranged eight deals worth INR 69.75 billion for HDB Financial Services, Tata Capital Muthoot Finance, Sundaram Finance, and Cholamandalam Investment and Finance Co. ICICI Bank was at the top in terms of number of deals during the month.

 

AK Capital Services slipped to the fourth spot from the second in March, helping mobilise INR 49.01 billion through 19 deals, including six solely handled deals for Infinity Fincorp Solutions, Aditya Birla Housing Finance, Agra Nagar Nigam, Sundaram Home Finance, Aadhar Housing Finance, and L&T Metro Rail (Hyderabad). 

 

ICICI Securities Primary Dealership moved to the fifth spot in April from eighth in the previous month. The firm managed 13 deals and helped raise INR 35.83 billion. It was the sole arranger for a deal worth INR 17.15 billion for Shriram Finance. 

 

Most arrangers jointly participated in big-ticket issuances for National Bank for Agriculture and Rural Development, Housing and Urban Development Corp., Indian Railway Finance Corp., Hindustan Petroleum Corp., National Bank for Financing Infrastructure and Development, and Power Grid Corp. of India. 

 

Overall fundraising slowed down in April as companies were still in the process of finalising their borrowing plans for the financial year 2025-26 (Apr-Mar). Fundraising through corporate bonds fell 20% on month to INR 1.03 trillion in April through the placement of 213 bonds. Bulk of this was by public sector entities which raised INR 392.64 billion in April. REC was the largest issuer, raising INR 76.25 billion through three bond offerings, followed by the National Bank for Agriculture and Rural Development, which raised INR 70 billion through a bond reissue.

 

Non-banking finance companies also actively raised funds through the corporate bond market in April. Non-banking finance companies raised INR 152.23 billion in April, higher than the INR 120.78 billion raised in March. However, fundraising by housing finance companies plummeted over 60% on month in April to INR 41.68 billion. 

 

Banks were hardly active in April with only Dhanlaxmi Bank raising INR 1.50 billion through 10-year bonds.

 

Following is a list of corporate bond arrangers in order of the quantum arranged in April:

 

ARRANGERS	ISSUES ARRANGED (SOLELY OR JOINTLY)	AMOUNT ARRANGED (INR BILLION)
Axis Bank	23	154.46
HDFC Bank	13	120.43
ICICI Bank	24	90.85
AK Capital Services	19	49.01
ICICI Securities Primary Dealership	13	35.83
Trust Investment Advisors	18	31.27
Yes Bank	9	15.90
PNB Gilts	13	13.05
SBI Capital Markets	6	10.55
Tipsons Financial Services	9	4.65
LKP Securities	0	0

 

 

End

 

Edited by Akul Nishant Akhoury

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.