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Informist, Wednesday, Aug. 5, 2026

By Meera Nair, Nandini Sinha, and Vaishali Tyagi

NEW DELHI – Muthoot MCred Ltd. plans to raise INR 4 billion through the issuance of three-year bonds maturing Aug. 7, 2029, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1600 IST Thursday.

The bonds carry a fixed coupon of 9.30%, payable monthly. The bonds are rated "A" by ICRA Ratings and will be allotted Friday.

THIS WEEK

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PROSPERA HEALTHCORP

Prospera Healthcorp Pvt. Ltd. plans to raise INR 3.35 billion through the issuance of three-year bonds maturing on Aug. 7, 2029, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1200 IST Thursday.

The coupon on the bonds is fixed at 11.81%, payable at maturity. The bonds are rated "A-" by India Ratings and Research and will be allotted Friday. Standard Chartered Bank is the sole arranger of the issue. Prospera Healthcorp is a consultancy and advisory firm that provides services to individuals and organisations across diverse sectors, including healthcare, engineering, information technology, and management.

EQUINOX INDIA INFRAESTATE

Equinox India Infraestate Ltd. plans to raise INR 1.9 billion through the reissue of the 13.50%, March 2031 bonds, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1500 IST and 1700 IST Wednesday. 

The yield on the reissue is payable quarterly. The bonds are rated 'A-' by IVR Ratings, with credit enhancement. The issue carries a call option, and will be allotted Thursday.

LLOYDS METALS AND ENERGY

Lloyds Metals and Energy Ltd. plans to raise INR 7 billion through the issuance of 10-year bonds maturing on Aug. 5, 2036, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform Wednesday. 

The coupon on the issue is fixed at 9.00%, payable annually. The bonds are rated 'AA' by Crisil Ratings and will be allotted Thursday. The issue carries a put option. 

For the March quarter, Lloyds Metals and Energy reported a consolidated net profit of INR 14.20 billion, with revenue rising fivefold to INR 60.20 billion for the reporting quarter. At 1358 IST, shares of the company traded 0.3% higher at INR 2,057.30 apiece on the NSE. 

HDB FINANCIAL SERVICES

HDB Financial Services Ltd. plans to raise up to INR 10 billion through the reissuance of bonds maturing on Jul. 5, 2029, and has invited bids for the same Wednesday, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 0900 IST and 1000 IST.

The issue has a base size of INR 4.5 billion and a green-shoe option of INR 5.5 billion. The coupon on the bond is fixed at 8.2301%, payable annually. Bonds are rated 'AAA' by Crisil Ratings and will be allotted on Thursday. Kotak Mahindra Bank is the sole arranger of the issuance. 

For the June quarter, HDB Financial reported a net profit of INR 7.85 billion on revenues of INR 49.38 billion.

NABARD

National Bank for Agriculture and Rural Development has scrapped its issue of bonds maturing on Sept. 17, 2031, as investors demanded higher coupon, dealers said. The company had planned to raise up to INR 80 billion through the issuance, with the base size at INR 20 billion and geenshoe of INR 60 billion. 

According to the bid books accessed by Informist, NABARD received bids totalling INR 71.66 billion, with the coupon ranging from 7.20% to 7.60%. The base issue of INR 20 billion was priced around coupon of 7.45%, against the market's expectation of 7.45% for the whole issue including the greenshoe option.

The company did not receive the full amount from investors and fell short of the planned mop-up, receiving bids worth just INR 71.66 billion. "Yields were too high, investors demanded higher coupon," a dealer at a brokerage firm said.  

CARE HEALTH INSURANCE

Care Health Insurance Ltd. Monday raised INR 2 billion through 10-year bonds maturing on Aug. 5, 2036, at a coupon of 10% payable annually, dealers said. The issue was fully subscribed. The bonds, rated "AA-" by India Ratings and Research, will be allotted Wednesday. 

The bonds carry three call options. The first call option can be exercised on Aug. 5, 2031. The second call option can be exercised on Aug. 5 in the following year and the third on the same date in 2033. Ashika Capital Ltd. was the sole arranger for the issuance.

EDEL FINANCE

Edel Finance Co. Ltd. Monday raised INR 1.15 billion through reissuance of zero-coupon bonds maturing Oct. 19, 2029, dealers said.

The bonds were rated "A+" by Crisil Ratings and will be allotted Tuesday. Edel Finance is a non-banking finance company and a wholly-owned subsidiary of Edelweiss Financial Services Ltd.

BAJAJ HOUSING FINANCE

Bajaj Housing Finance Ltd. raised INR 18.85 billion through 10-year bonds maturing on Aug. 4, 2036, at a coupon of 7.87%, dealers said.

The issue had a base size of INR 5 billion and a greenshoe option of INR 15 billion. The coupon on the bond will be payable annually. The bonds were rated "AAA" by Crisil Ratings and will be allotted Tuesday.

Monday, shares of the company ended at INR 86.85, up nearly 1% from Friday, on the National Stock Exchange.

MARWADI CHANDARANA INTERMEDIARIES BROKERS

Marwadi Chandarana Intermediaries Brokers Pvt. Ltd. plans to raise up to INR 1.5 billion through the issuance of two-year zero-coupon bonds maturing on Aug. 4, 2028, dealers said. The bidding for the bonds will take place on the BSE's electronic bidding platform from 1000 IST to 1300 IST.

The issue has a base size of INR 1 billion and a greenshoe option of INR 500 million. The bonds are rated "A" by Crisil Ratings and will be allotted Wednesday.

IKF Finance

IKF Finance Ltd. will raise up to INR 2 billion through the issuance of bonds maturing on Oct. 5, 2028, Tuesday, dealers said. Bidding for the bonds will take place on the BSE's electronic bidding platform between 1400 IST and 1700 IST Tuesday. The issuance has a base size of INR 500 million and a greenshoe option of INR 1.50 billion. The bonds, rated "AA-" by India Ratings and Research, carry a fixed coupon of 9% that will be paid on a quarterly basis.

CESC

The board of CESC Ltd. allotted non-convertible debentures aggregating to INR 2.5 billion on a private placement basis, through floating rate bonds and it will mature on Jun. 30, 2036, the company informed exchanges Monday. The issue will be allotted on Wednesday. The coupon rate is fixed at a spread of 2.60% above the three-month Treasury bill and will be paid monthly.

ULTRATECH CEMENT 

UltraTech Cement approved allotment of non-convertible debentures worth INR 50 billion on a private placement basis, the company said in an exchange filing Monday. The company had raised INR 20 billion through bonds maturing on Aug. 1, 2031, at 7.25% Friday. It had also raised INR 15 billion through bonds maturing on Feb. 1, 2030, at 7.23% and INR 15 billion through bonds maturing on Feb. 2, 2029, at 7.22%, respectively. For the June quarter, UltraTech Cement reported a consolidated net profit of INR 25.99 billion on revenue of INR 246.48 billion.

LAST WEEK

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KOTAK MAHINDRA PRIME

Kotak Mahindra Prime Ltd. raised INR 3 billion through bonds maturing on Oct. 19, 2029, dealers said. The bonds had a fixed coupon of 7.88%. The first coupon will be paid on Oct. 19 and thereafter annually and at maturity. The bonds were rated 'AAA' by ICRA Ratings, and will be allotted Aug. 3.

ICICI Bank Ltd. was the sole arranger of the bond issuance. The issuance had received anchor investment of INR 300 million from HSBC Mutual Fund, INR 450 million from ICICI Bank, and INR 150 million from Indian Bank.

SMFG INDIA CREDIT

SMFG India Credit Co. Ltd. Jul. 31 raised INR 11 billion through three-year bonds maturing on Aug. 3, 2029, dealers said. The bonds carried a fixed coupon of 7.73%, which will be paid quarterly. The bonds were rated 'AAA' by CARE Ratings, and will be allotted Aug. 3. 

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT

National Bank for Agriculture and Rural Development plans to raise up to INR 80 billion through the issuance of bonds maturing on Sept. 17, 2031, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform between 1030 IST and 1130 IST Aug. 4.

The issue has a base size of INR 20 billion and a greenshoe option of INR 60 billion. The bonds are rated 'AAA' by ICRA Ratings, and will be allotted Aug. 5.

ULTRATECH CEMENT

UltraTech Cement Ltd. has raised INR 50 billion through three bonds with different maturities Jul. 31, dealers said. All the three bonds are rated 'AAA' by Crisil Ratings, and will be allotted Aug. 3. Axis Bank is the sole arranger of all the three issuances.

The company raised INR 20 billion through bonds maturing on Aug. 1, 2031 at 7.25%. The issue has received anchor investment of INR 4.18 billion from Axis Bank Ltd., INR 1.2 billion from UTI Pension Fund Ltd., INR 222.50 million from Inveso Mutual Fund, and INR 100 million from Axis Pension Fund Management Ltd.

It raised INR 15 billion through bonds maturing on Feb. 1, 2030 at 7.23%. The issue has received anchor investment of INR 2.48 billion from Axis Bank, INR 1.2 billion from SBI Pension Fund Pvt. Ltd., INR 600 million from SBI Life Insurance Co. Ltd., and INR 225 million from HSBC Mutual Fund.

The cement maker also raised another INR 15 billion through bonds maturing on Feb. 2, 2029 at 7.22%. The issue has received anchor investment of INR 3.78 billion from Axis Bank, INR 500 million from Bandhan Mutual Fund, and INR 225 million from HSBC Mutual Fund.

For the June quarter, UltraTech Cement posted a consolidated net profit of INR 25.99 billion on revenue of INR 246.48 billion.  

TATA PROJECTS

Tata Projects Ltd. Jul. 30 raised INR 4 billion through the issuance of three-year bonds maturing on Jul. 31, 2029, dealers said. The coupon on the bond was fixed at 8.32%, payable annually. The bonds, rated 'AA' by India Ratings and Research, will be allotted Jul. 31.

SBI Capital Markets and YES Bank were arrangers of the issuance. The issue received anchor investment of INR 600 million from SBI Capital Markets, INR 450 million from YES Bank, and INR 150 million from Reliance General Insurance Co. 

HERO FINCORP

Hero Fincorp Ltd. raised INR 3.25 billion through the issuance of two-year bonds maturing on Jul. 31, 2028, dealers said. The issue had a base size of INR 3 billion and a greenshoe option of INR 2 billion.

The coupon on the bond was fixed at 8.40%, with the first payment on Jul. 31, 2027, and then on maturity. The bonds, rated 'AA+' by Crisil Ratings, will be allotted on Jul. 31. The issuance has received anchor investment of INR 900 million from HDFC Bank.

JIO CREDIT

Jio Credit Ltd., a wholly-owned subsidiary of Jio Financial Services Ltd., raised INR 10.25 billion through the issuance of two bonds with different maturities, against a planned INR 20 billion, dealers said. 

The financial services company raised INR 5.25 billion through bonds maturing on Aug. 23, 2029, at a coupon of 7.95%. It raised INR 5 billion through bonds maturing on Jul. 31, 2031, at a coupon of 8.05%. Each bond had an original issue size of INR 10 billion. The bonds, rated 'AAA' by Crisil Ratings, will be allotted on Jul. 31. 

MINDSPACE BUSINESS PARKS REIT

Mindspace Business Parks Real Estate Investment Trust plans to raise INR 6 billion through two-year bonds maturing on Aug. 3, 2028, dealers said. Bidding for the bonds will take place on BSE's electronic platform from 1030 IST to 1130 IST Jul. 31.

The bonds have a fixed coupon of 7.4913%, which will be paid quarterly. The bonds are rated 'AAA' by ICRA Ratings, and will be allotted Aug. 3. A.K. Capital Services and ICICI Bank Ltd are the arrangers of the bond issuance. The bonds have received anchor investment of INR 900 million each from ICICI Prudential Corporate Bond Fund and Aditya Birla Sun Life Mutual Fund. 

AAVAS FINANCIERS

Aavas Financiers Ltd. Jul. 29 raised INR 2 billion through the issuance of three-year bonds maturing on Jul. 30, 2029, dealers said. The coupon on the issue was fixed at 7.80%, payable annually. The bonds were rated 'AA' by CARE Ratings, and will be allotted Jul. 30.

For the June quarter, the home loan company posted a net profit of INR 1.71 billion on revenues of INR 7.09 billion. 

EARLYSALARY SERVICES

EarlySalary Services Pvt. Ltd. Jul. 29 raised INR 1.75 billion through the issuance of bonds maturing on Oct. 4, 2028, dealers said. The issue had a base size of INR 1 billion and a green-shoe option of INR 800 million. The coupon on the bond is fixed at 10.50%, payable monthly. The bonds are rated "A-" by Care Ratings, and will be allotted on Jul. 30.

TRUST INVESTMENT ADVISORS

Trust Investment Advisors Pvt. Ltd. raised INR 1.5 billion through two bond issuances, against a planned raise of INR 3 billion, dealers said. Each tranche was sized at INR 1.5 billion. The coupon on both bonds will be payable annually.

The financial services company raised INR 1 billion through bonds maturing on Jul. 28, 2033, at a coupon of 9.10%. The issue had a base size of INR 500 million with a green shoe option of INR 1 billion.

It raised the remaining INR 500 million through bonds maturing on Jul. 30, 2030, at a coupon of 8.85%. This tranche also had the base size of INR 500 million and a green shoe option of INR 1 billion. Both the bonds were rated 'AA+' by Acuite Ratings and will be alloted on Jul. 30. 

MUTHOOT FINANCE

Muthoot Finance Ltd. Jul. 29 raised INR 41.09 billion through the issuance of floating rate bonds maturing on Sept. 4, 2029, dealers said. 

The issue had a base size of INR 33 billion and a greenshoe option of INR 9 billion. The coupon on the bond was fixed 315 basis points above three-month Treasury bills, payable annually. The bonds were rated "AA+" by Crisil Ratings and will be allotted Jul. 30.

The issue had secured anchor investment of INR 9.90 billion from marquee investors such as ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, SBI Mutual Fund, Nippon India Mutual Fund, and Standard Chartered Bank. For the March quarter, Muthoot Finance had reported a net profit of INR 30.86 billion and total income of INR 81.94 billion.

SHARE INDIA SECURITIES

Share India Securities Ltd. plans to raise up to INR 1.50 billion through the issuance of bonds maturing Aug. 10, 2028, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1000 IST and 1400 IST Jul. 30.

The issue has a base size and a greenshoe option of INR 750 million each. The coupon on the issue is fixed at 10.50%, payable monthly. The bonds are rated "A+" by CARE Ratings and will be allotted Jul. 31.

DEV ACCELERATOR

Dev Accelerator Ltd. plans to raise INR 1 billion through the issuance of three-year bonds maturing on Aug. 4, 2029 bonds, dealers said. Bidding for the bonds will take place on the National Stock Exchange between 0900 IST and 1500 IST Aug. 3. 

The bonds are rated 'BBB' by Acuite Ratings and Research, and will be allotted Aug. 4. The company is headquartered in Ahmedabad and provides flexible workspace solutions, plug-and-play desks, customised enterprise office spaces, and design-to-execution services

NIIF INFRASTRUCTURE FINANCE

NIIF Infrastructure Finance Ltd. plans to raise up to INR 5.5 billion through the reissue of 7.88%, August 2031 bonds, dealers said. Bidding for the bonds will take place on the National Stock Exchange between 1110 IST and 1215 IST Jul. 30.

The reissue has a base size of INR 5 billion and a green-shoe option of INR 500 million. The bonds are rated 'AAA' by ICRA Ratings and will be allotted Jul. 31. The issue has received an anchor investment of INR 300 million from Nuvama Wealth Finance Ltd.

NAVI FINSERV

Navi Finserv Ltd. plans to raise INR 1.75 billion by reissuing bonds maturing on May 31, 2028, and has invited bids on Jul. 30, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform from 1100 IST to 1200 IST. 

The bonds, rated 'A' by ICRA Ratings, will be allotted Jul. 31. 

NORTHERN ARC CAPITAL

Northern Arc Capital Ltd. plans to raise up to INR 1.5 billion through the issuance of two-year bonds maturing on Jul. 31, 2028, and has invited bids for the same Jul. 30, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform between 1200 IST and 1300 IST.

The issue has a base size of INR 500 million and a greenshoe option of INR 1 billion. The coupon on the bond is fixed at 9.04%, payable quarterly from the deemed allotment date of Jul 31 until the maturity date and the final coupon payment on the maturity date. The bonds are rated 'AA-' by ICRA Ratings and will be allotted on Jul. 31.

ULTRATECH CEMENT

UltraTech Cement Ltd. plans to raise a total of INR 50 billion through the issuance of three bonds with different maturities, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform between 1100 IST and 1230 IST Jul. 31.

The company plans to raise INR 20 billion through the issuance of bonds maturing on Aug. 1, 2031. The coupon on the issue is fixed at 7.25%. The issue has received anchor investment of INR 4.18 billion from Axis Bank Ltd., INR 1.2 billion from UTI Pension Fund Ltd., INR 222.50 million from Inveso Mutual Fund, and INR 100 million from Axis Pension Fund Management Ltd.

It plans to raise INR 15 billion through the issuance of bonds maturing on Feb. 1, 2030. The coupon on the issue is fixed at 7.23%. The issue has received anchor investment of INR 2.48 billion from Axis Bank, INR 1.2 billion from SBI Pension Fund Pvt. Ltd., INR 600 million from SBI Life Insurance Co. Ltd., and INR 225 million from HSBC Mutual Fund.

The cement maker also plans to raise another INR 15 billion through bonds maturing on Feb. 2, 2029. The coupon on the issue is fixed at 7.22%. The issue has received anchor investment of INR 3.78 billion from Axis Bank, INR 500 million from Bandhan Mutual Fund and INR 225 million from HSBC Mutual Fund.

All the three bonds are rated 'AAA' by Crisil Ratings, and all of them will be allotted Aug. 3. Axis Bank is the sole arranger of all the three issuances.

For the June quarter, UltraTech Cement posted a consolidated net profit of INR 25.99 billion on revenues of INR 246.48 billion. 

HERO FINCORP

Hero Fincorp Ltd. plans to raise up to INR 5 billion through the issuance of two-year bonds maturing on Jul. 31, 2028 and has invited bids for the same Jul. 30, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform between 1100 IST and 1200 IST.

The issue has a base size of INR 3 billion and a greenshoe option of INR 2 billion. The coupon on the bond is fixed at 8.40%, with the first payment on Jul. 31, 2027, and then on maturity. The bonds are rated 'AA+' by Crisil Ratings and will be allotted on Jul. 31.

The issuance has received anchor investment of INR 900 million from HDFC Bank Ltd. 

SBI

State Bank of India has set a coupon of 7.75% on its perpetual bonds and accepted bids aggregating to INR 46.91 billion, dealers said. According to the bid book accessed by Informist, the company received 89 bids aggregating to INR 63.81 billion in the coupon range of 7.60-8.20%. Market participants had expected the coupon on the bond to be around 7.70%.

A perpetual bond is a debt instrument that has no maturity date. The issuing entity pays out interest on the bond value at a predetermined rate. Since there is no maturity date, a perpetual bond is not redeemable.

The issue had a base size of INR 30 billion and a greenshoe option of INR 20 billion. The bonds were rated 'AA+' by Crisil Ratings and will be allotted on Jul. 30. The issue had a call option, exercisable on Jul. 30, 2031. SBI Capital Markets Ltd. is the sole arranger of the issuance. 

For the March quarter, SBI had reported a net profit of INR 196.84 billion and total income of INR 1.4 trillion.

EARLYSALARY SERVICES

EarlySalary Services Pvt. Ltd. plans to raise up to INR 1.8 billion through the issuance of bonds maturing on Oct. 4, 2028, and has invited bids for the same Jul. 29, dealers said. Bidding for the bonds will take place on the BSE's electronic bidding platform between 0900 IST and 1600 IST.

The issue has a base size of INR 1 billion and a greenshoe option of INR 800 million. The coupon on the bond is fixed at 10.50%, payable monthly. The bonds are rated "A-" by Care Ratings and will be allotted on Jul. 30.

KEERTANA FINSERV

Keertana Finserv Ltd. plans to raise up to INR 2 billion through the reissue of its 12.00%, September 2027 bonds, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100-1600 IST Jul. 29.

The issue has a base size of INR 500 million and a greenshoe option of INR 1.5 billion. The coupon on the issue is payable monthly. The bonds are rated "BBB+" by India Ratings and Research and will be allotted Jul. 30.

AVANSE FINANCIAL SERVICES

Avanse Financial Services Ltd. Jul. 27 raised INR 5 billion through the issuance of bonds maturing on Oct. 28, 2027, dealers said. The bonds were fully subscribed at a coupon of 8.80%, payable monthly.

The bonds are rated 'AA' by India Ratings and Research, and will be allotted on Jul. 28.  

SUMMIT DIGITEL INFRASTRUCTURE

Summit Digitel Infrastructure Ltd. Jul. 27 raised INR 12 billion through the issuance of bonds maturing on Jun. 30, 2031, dealers said. The bonds were fully subscribed at a coupon of 7.505%, payable quarterly.

The bonds are rated 'AAA' by Crisil Ratings and will be allotted Jul. 28. The issue carries an event-driven call option. 
ICICI Bank Ltd. and HDFC Bank Ltd. were the arrangers of the issue and the two banks had made anchor investments of INR 1.8 billion each.

TATA CAPITAL HOUSING FINANCE

Tata Capital Housing Finance Ltd. raised INR 5.25 billion through the reissue of the 7.17%, May 2030 bonds, dealers said. The company had planned to raise up to INR 10 billion through the reissue.

The reissue had a base size and a green-shoe option of INR 5 billion each. The bonds are rated 'AAA' by Care Ratings and will be allotted on Jul. 28. Tata Capital Housing Finance is a wholly owned subsidiary of Tata Capital Ltd., which offers long-term funds for housing purposes. 

AYE FINANCE

Aye Finance Pvt. Ltd. plans to raise up to INR 2.2 billion through the issuance of two-year bonds maturing on Jul. 28, 2028, and has invited bids for the same Jul. 28, dealers said. Bidding for the bonds will take place on the BSE's electronic bidding platform between 0900 IST and 1700 IST.

The issue has a base size of INR 2 billion and a greenshoe option of INR 200 million. The coupon on the bond is fixed at 9.75%, payable monthly. The bonds are rated 'A+' by India Research and Ratings and will be allotted on Jul. 29. At 1140 IST, shares of the non-banking financier were at INR 169.19 on the National Stock Exchange, down nearly 2%.

LAST FORTNIGHT

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GIC HOUSING FINANCE

GIC Housing Finance Ltd. plans to raise INR 2 billion through the issuance of bonds maturing on Jan. 28, 2028, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1100 IST and 1200 IST Jul. 27.

The coupon on the issue is fixed at 8.15%, payable annually. The bonds are rated 'AA+' by Crisil Ratings and will be allotted Jul. 29. ICICI Bank is the sole arranger of the issuance and has also made an anchor investment of INR 600 million.

TATA CAPITAL HOUSING FINANCE

Tata Capital Housing Finance Ltd. plans to raise up to INR 10 billion through the reissue of the 7.17%, May 2030 bonds, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform Jul. 27.

The issue has a base size and a green-shoe option of INR 5 billion each. The bonds are rated 'AAA' by ICRA ratings and will be allotted on Jul. 28. Axis Bank is the sole arranger of the issuance. Tata Capital Housing Finance is a wholly owned subsidiary of Tata Capital Ltd., which offers long-term funds for housing purposes.

AVANSE FINANCIAL SERVICES

Avanse Financial Services Ltd. plans to raise INR 5 billion through the issuance of bonds maturing on Oct. 28, 2027, and has invited bids for the same Jul. 27, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 1100 IST and 1200 IST.

The coupon on the bond is fixed at 8.80%, payable monthly. The bonds are rated 'AA' by India Ratings and Research and will be allotted on Jul. 28. 

SUMMIT DIGITEL INFRASTRUCTURE

Summit Digitel Infrastructure Ltd. plans to raise INR 12 billion through the issuance of bonds maturing on Jun. 30, 2031 and has invited bids for the same Jul 27, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform between 1130 IST and 1230 IST.

The coupon on the bond is fixed at 7.505%, payable quarterly. The bonds are rated 'AAA' by Crisil Ratings and will be allotted on Jul. 28. The issue carries an event-driven call option. ICICI Bank Ltd. and HDFC Bank Ltd. are the arrangers of the issue and the issuance received anchor investment of INR 1.8 billion each from both banks.

HDB FINANCIAL SERVICES

The board of HDB Financial Services Ltd. allotted reissued non-convertible debentures aggregating to INR 4 billion on a private placement basis, the company informed exchanges. The debentures are proposed to be listed on the wholesale debt market segment of BSE Ltd.

The reissued bonds will mature on Jul. 5, 2029.

For the June quarter, HDB Financial reported a net profit of INR 7.85 billion on revenues of INR 49.38 billion.

SMFG INDIA HOME FINANCE

SMFG India Home Finance Co. Ltd. raised INR 1.50 billion through the issue of bonds maturing on May 29, 2029, dealers said.

The coupon on the bonds was fixed at 7.45% and will be paid annually. The bonds were rated 'AAA' by CARE Ratings and will be allotted on Jul. 23. A.K. Capital Services was the sole arranger of the issuances and it had got an anchor investment of INR 450 million from ICICI Prudential Mutual Fund.

BAJAJ FINANCE

Bajaj Finance Ltd. raises INR 11.41 billion through the reissuance of bonds maturing on Jun. 12, 2029, at a yield of 7.85%, dealers said.

The issue had a base size and a greenshoe option of INR 10 billion each. The bonds were rated 'AAA' by Crisil Ratings and will be allotted on Jul. 23.

For the March quarter, Bajaj Finance had reported a consolidated net profit of INR 54.65 billion on revenue of INR 216.06 billion.

ADITYA BIRLA CAPITAL

Aditya Birla Capital Ltd. plans to raise up to INR 12.50 billion through the reissuance of two bonds with different maturities and has invited bids for the same on Jul. 23 , dealers said. The bonds are rated 'AAA' by Care Ratings and will be allotted on Jul. 24.

The company plans to raise up to INR 9 billion through bonds maturing on Sept. 7, 2029, and up to INR 3.5 billion through bonds maturing on Jul. 4, 2029.

For the March quarter, Aditya Birla Capital had reported a net profit of INR 11.29 billion on a consolidated basis on revenues of INR 134.59 billion.

ASIRVAD MICRO FINANCE

Asirvad Micro Finance Ltd., a subsidiary of Manappuram Finance Ltd., plans to raise INR 1 billion through the issue of bonds maturing on Dec. 30, 2027, dealers said. Bidding for the bonds will take place on BSE's electronic platform from 1000 IST to 1100 IST on Jul. 22.

The coupon on the bonds is fixed at 9.68% and will be paid annually. The bonds are rated 'AA-' by CARE Ratings and will be allotted Jul. 23.

According to the company's website, the non-banking financial company has assets under management of INR 100 billion and serves 3 million customers across India.

INDOSTAR CAPITAL FINANCE

Indostar Capital Finance Ltd. plans to raise INR 4 billion through the issuance of two bonds with different maturities and has invited bids for the same on Jul. 22, dealers said. These bonds are rated 'AA-' by Care Ratings and will be allotted on Jul. 23.

The company plans to raise INR 2 billion through each of the two bonds. Both bonds will carry the same fixed coupon of 9.15%, payable annually. One bond will mature on Aug. 23, 2028, and the other on Nov. 23, 2028.

IndoStar Capital Finance offers a comprehensive range of financial products, including loans for commercial vehicles, construction equipment, farm equipment, and small-ticket business loans, along with insurance solutions. The company provides end-to-end lending, financing, and credit services. With assets under management exceeding INR 80 billion, IndoStar Capital Finance has over 500 branches across India and serves a customer base of more than 100,000.

HDB FINANCIAL SERVICES

HDB Financial Services Ltd. plans to raise up to INR 10 billion through the reissue of the 8.2301%, July 2029 bonds, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1030 IST and 1130 IST on Jul. 22.

The issue has a base size of INR 4 billion and a greenshoe option of INR 6 billion. The bonds are rated 'AAA' by Crisil Ratings and will be allotted Jul. 23.

For the June quarter, HDB Financial reported a net profit of INR 7.85 billion on revenues of INR 49.38 billion.

ULTRATECH CEMENT

The board of UltraTech Cement Ltd. met on Jul. 23 to consider a proposal to raise up to INR 50 billion by issuance of non-convertible debentures in one or more tranches on private placement basis, the company said.

For the June quarter, the cement company reported a consolidated net profit of INR 25.99 billion, up 17% on year, and the revenue from operations rose 16% on year to INR 246.48 billion.

ECAP EQUITIES

Ecap Equities Ltd. plans to raise INR 2.50 billion through reissuance of bonds maturing on Apr. 24, 2029 and has invited bids for them on Jul. 21, dealers said.

Bidding for the bonds will take place on BSE's electronic bidding platform between 1000 IST and 1400 IST. The bonds are rated 'A+' by Crisil Ratings and will be allotted Jul. 22.

AADHAR HOUSING FINANCE

The board of Aadhar Housing Finance Ltd. on Jul. 20 allotted non-convertible debentures aggregating to INR 3.5 billion on a private placement basis. The debentures are proposed to be listed on the wholesale debt market segment of BSE, the company informed exchanges.

The initial coupon rate on the bonds, maturing on Jul. 15, 2031, will be the average of the three-month Mumbai interbank offered rate overnight indexed swap benchmark rate of 3 working days from Jul. 10 to Jul. 14, plus a spread. The benchmark will be the closing yield of the three-month MIBOR-OIS, recorded one day prior to the coupon reset date.

For the March quarter, the non-banking financier had reported a consolidated net profit of INR 3.11 billion on revenues of INR 9.85 billion.

Edited by Rajeev Pai

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