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Informist, Monday, Sept. 21, 2026

NEW DELHI – Anupam Rasayan India Ltd. will raise up to INR 1.6 billion through non-convertible debentures on a private placement basis to Aditya Birla Capital Ltd., the company informed exchanges Saturday. The company will issue the non-convertible debentures Monday at a coupon rate of 10.25% annually for 13 months.

The debentures can be partially redeemed on or before Oct. 21 for INR 99,500 per debenture. While the debentures can be redeemed in full on Oct. 21, 2027, for INR 500 per debenture, the filing said.

Anupam Rasayan will use the proceeds from the issue to repay existing debt, invest in group companies, and for general corporate purposes.

For the June quarter, Anupam Rasayan had reported consolidated net profit of INR 386.39 million on revenues of INR 6.55 billion. At 0926 IST, its shares traded at INR 1,184.10 on the National Stock Exchange, down 2% from Friday. Aditya Birla Capital's shares traded at INR 403.65, down 1.6%. (Shweta)

LAST WEEK

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IIFL FINANCE

IIFL Finance Ltd. Friday raised INR 1.30 billion through the reissue of bonds maturing on Sept. 1, 2028. The company had planned to raise up to INR 1.50 billion through the reissue.

The issue had a base size of INR 1 billion and a greenshoe option of INR 500 million. The coupon on the bond will be payable annually. The bonds are rated "AA" by Crisil Ratings, and will be allotted Monday. The Hongkong and Shanghai Banking Corp. Ltd. was the sole arranger of the issuance.

For the June quarter, the financier reported a consolidated net profit of INR 6.75 billion on revenues of INR 39.19 billion.

PIRAMAL FINANCE

Piramal Finance Ltd. Friday raised INR 11 billion by issuing bonds maturing on Nov. 5, 2029, dealers said. The company had planned to raise up to INR 20 billion from the issue. 

The issue had a base size of INR 5 billion and a greenshoe option of INR 15 billion. The coupon has been fixed at 8.57%, payable annually. The bonds, rated 'AA+' by Crisil Ratings, will be allotted on Monday. The issue has a call option, exercisable on Sept. 21, 2029. Standard Chartered Bank was the sole arranger.

For the June quarter, the lender reported a consolidated net profit of INR 4.59 billion on revenue of INR 33.68 billion.

INFOMERICS RATINGS

Infomerics Ratings Friday assigned an 'AA+' rating to Capri Global Capital Ltd.'s non-convertible debentures worth INR 3 billion with a stable outlook, the company informed exchanges.  

On Friday, shares of Capri Global ended at INR 270.65 apiece on the National Stock Exchange, up over 3%. For the June quarter, the company had reported a net profit of INR 3.14 billion on revenue of INR 12.33 billion.

BAJAJ AUTO CREDIT

Bajaj Auto Credit Ltd. plans to raise INR 2.5 billion through six-year bonds maturing on Sept. 22, 2032, and has invited bids for the same Monday, 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 coupon on the bond is fixed at 8.25%, payable annually. Bonds are rated "AAA" by ICRA Ratings and will be allotted Tuesday. The bond issue has received an anchor investment of INR 750 million from Bajaj Auto Ltd.

INDIAFIRST LIFE INSURANCE

IndiaFirst Life Insurance Co. Ltd. plans to raise INR 2 billion through 10-year bonds maturing on Sept. 22, 2036, and has invited bids for the same Monday, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform from 1030 IST to 1130 IST. 

The coupon will be payable annually. The bonds are rated "AA" by CARE Ratings and will be allotted Tuesday. The issue has received an anchor investment of INR 600 million from Trust Investment Advisors Pvt. Ltd., who is also the arranger for the issuance. The issue carries a call option which can be exercised on Sept. 22, 2031.

VEDANTA

Vedanta Ltd. Friday approved the issuance of non-convertible debentures aggregating to INR 35 billion in one or more series, the company said in an exchange filing. The debentures are proposed to be listed on the wholesale debt market segment of BSE.

For the June quarter, Vedanta had reported consolidated net profit of INR 54.73 billion on revenues of INR 242.05 billion.

BAJAJ HOUSING FINANCE

Bajaj Housing Finance Ltd. Friday allotted reissued non-convertible debentures aggregating to INR 4.96 billion, the company informed exchanges. The debentures are proposed to be listed on the wholesale debt market segment of BSE.

The company had planned to raise up to INR 15 billion through the debentures maturing on Aug. 4, 2036. The first interest payment will be paid on Aug. 4, 2027, and annually thereafter. 

For the June quarter, Bajaj Housing Finance had reported net profit of INR 7.15 billion on revenues of INR 30.63 billion.

POWER GRID CORP. OF INDIA

Power Grid Corp. of India Ltd. will raise up to INR 50 billion through 10-year non-convertible bonds, the company said in an exchange filing Friday. The issue has a base size of INR 10 billion and a greenshoe of INR 40 billion. The bonds will be listed on BSE and the National Stock Exchange. Coupon on the bonds will be decided at the time of bidding. 

For the June quarter, the company had reported net profit of INR 34.11 billion on revenues of INR 97.95 billion. 

CARE HEALTH INSURANCE

Care Health Insurance Ltd. Thursday raised INR 1 billion through the issuance of 10-year bonds at a coupon of 10%, dealers said. The bonds, maturing on Sept. 18, 2026, were fully subscribed. 

The coupon on the bonds will be payable annually. Both bonds are rated "AA-" by India Ratings and Research and will be allotted Friday. The issue has a call option, exercisable on Sept. 18, 2031.

L&T FINANCE

L&T Finance Ltd. Thursday raised INR 6.50 billion through the reissuance of bonds maturing Sept. 28, 2029, dealers said. The issue had a base size of INR 6.5 billion and a greenshoe option of INR 18.50 billion. 

The bonds, rated "AAA" by Crisil Ratings, will be allotted Friday. For the June quarter, the company had reported a consolidated net profit of INR 9.02 billion on revenue of INR 52.13 billion.

AAVAS FINANCIERS

The board of Aavas Financiers has approved the issuance of non-convertible debentures worth INR 90 billion on a private placement basis in one or more tranches, the company informed exchanges Thursday. The issuance will be done during a period of one year, i.e. till September 2027.

On Sept. 10, the housing financier had raised INR 1 billion through the issuance of five-year floating rate bonds maturing on Sept. 11, 2031. For the June quarter, the home loan company posted a net profit of INR 1.71 billion on revenue of INR 7.09 billion. 

IIFL FINANCE

IIFL Finance Ltd. plans to raise up to INR 1.5 billion through the reissuance of bonds maturing on Sept. 1, 2028, and has invited bids for the same Friday, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform.

The issue has a base size of INR 1 billion and a greenshoe option of INR 500 million. The coupon will be payable annually. The bonds are rated 'AA' by Crisil Ratings and will be allotted on Monday. The Hongkong and Shanghai Banking Corp. Ltd. is the sole arranger of the issuance. 

For the June quarter, the financier reported a consolidated net profit of INR 6.75 billion on revenues of INR 39.19 billion.

KISETSU SAISON FINANCE

Kisetsu Saison Finance (India) Pvt. Ltd. plans to raise INR 2 billion through the issuance of two-year bonds maturing on Sept. 21, 2028, and has invited bids for the same Friday, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform. 

The coupon on the bond is fixed at 7.70%, with the first coupon payable on Sept. 21, 2027, and annually thereafter. The bonds are rated 'AAA' by Care Ratings and will be allotted on Monday.

SINDHUJA MICROCREDIT

Sindhuja Microcredit Pvt. Ltd. plans to raise INR 1 billion through the issuance of bonds maturing on Jun., 26, 2028, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1100 IST and 1400 IST Monday.

The coupon on the bond is fixed at 11.75% per annum, payable quarterly. The bonds are rated "BBB" by India Ratings and Research, and will be allotted Tuesday.

TVS CREDIT SERVICES

TVS Credit Services Ltd. plans to raise up to INR 10 billion through the issuance of three-year bonds maturing on Sept. 21, 2029, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform between 1215 IST and 1315 IST Friday.

The issue has a base size of INR 7.5 billion and a greenshoe option of INR 2.5 billion. The coupon on the bond is fixed at 7.29%, payable annually. The bonds are rated "AA+" by Care Ratings, and will be allotted Monday. The issue has received anchor investment of INR 2.25 billion from Deutsche Bank AG.

DMI FINANCE

DMI Finance Pvt. Ltd. plans to raise up to INR 18.15 billion through six bonds with different maturities and has invited bids for the same Friday, dealers said. Bidding for all the six bonds will take place on BSE's electronic bidding platform between 1000 IST and 1100 IST.  

The issuance of bonds maturing on Aug. 11, 2028, Sept. 12, 2028, Dec. 12, 2028, and Sept. 12, 2029, have a base size of INR 1 billion and a greenshoe option of INR 2 billion each. Meanwhile, the issuance of bonds maturing on Oct. 12, 2028, has a base size of INR 1 billion and a greenshoe option of INR 1.65 billion and that for bonds maturing on Mar. 12, 2029, has a base size of INR 1 billion and a greenshoe option of INR 2.5 billion.

The coupon for all the bonds will be decided at the time of bidding and will be payable annually, except for the December 2028 bonds, for which it will be payable quarterly. All six bonds are rated 'AA' by ICRA Ratings and will be allotted on Monday.

ANUPAM RASAYAN INDIA

Anupam Rasayan India Ltd. will Saturday discuss plans to raise up to INR 1.6 billion through issuance of non-convertible debentures on a private placement basis, the company informed exchanges.

For the June quarter, the company had reported consolidated net profit of INR 386.39 million on a revenue of INR 6.55 billion.

GODREJ HOUSING FINANCE

Godrej Housing Finance Ltd. Wednesday raised INR 4 billion through the issuance of five-year bonds maturing on Sept. 17, 2031. The company had planned to raise up to INR 5 billion thorugh these bonds.  

The issue had a base size of INR 4 billion and a greenshoe option of INR 1 billion. The coupon on the bond was fixed at 8.40% and will be payable annually. The bonds were rated 'AA+' by Crisil Ratings and will be allotted on Thursday. 

GODREJ INDUSTRIES

Godrej Industries Ltd. Wednesday raised INR 7.50 billion by issuing bonds maturing on Mar. 18, 2032, dealers said. The issue was fully subscribed. The coupon on the bond has been fixed at 8.50%, payable annually. The bonds, rated 'AA+' by Crisil Ratings, will be allotted Friday. 
For the June quarter, Godrej Industries reported a consolidated net profit of INR 2.84 billion on revenues of INR 54.48 billion.

PNB HOUSING FINANCE

PNB Housing Finance Ltd. raised INR 5 billion through the issuance of five-year bonds maturing on Sept. 17, 2031, dealers said. The issue had a base size of INR 5 billion and a green-shoe option of INR 1 billion. The coupon on the bond was fixed at 8.14%, payable annually.=
The bonds were rated "AAA" by India Ratings and Research, and will be allotted Thursday. For the June quarter, PNB Housing Finance reported a consolidated net profit of INR 5.57 billion on revenues of INR 22.63 billion. Wednesday, the company's shares ended nearly 1% lower at INR 1,134 on the National Stock Exchange. 

Nuvama WEalth Management Ltd. is the arranger for the issuance. The issue received anchor investment from Aditya Birla Sun Life Insurance Co. Ltd., Central Bank of India, Nuvama Wealth Finance Ltd., and Hindalco Industries Ltd. 

CARE HEALTH INSURANCE

Care Health Insurance Ltd. plans to raise INR 1 billion through 10-year bonds maturing on Sept. 18, 2026, and has invited bids for them Thursday, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform. 

The coupon on the bonds will be payable annually. Both bonds are rated "AA-" by India Ratings and Research, and will be allotted Friday. 

KOTAK MAHINDRA PRIME

Kotak Mahindra Prime Ltd. plans to raise INR 8 billion through three bonds with different maturities, dealers said. Bidding for all the three bonds will take place on the National Stock Exchange's electronic bidding platform from 1000 IST to 1100 IST on Thursday. 

The non-banking finance company plans to raise up to INR 5 billion through the issuance of bonds maturing on Jun. 21, 2029. The coupon on the bond was fixed at 7.94%, payable annually. The issue received anchor investment of INR 150 million each from Canara Bank and Indian Bank, and INR 600 million from ICICI Bank. 

It also plans to raise INR 1.50 billion each through the reissuance of bonds maturing on Aug. 21, 2028, and Jul. 13, 2028. All the three bonds are rated 'AAA' by Crisil Ratings, and will be allotted Friday. ICICI Bank is the arranger for all three bonds. 

VIVRITI CAPITAL

Vivriti Capital Ltd. plans to raise up to INR 1 billion through two bonds with different maturities and has invited bids for them Thursday, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 1000 IST and 1200 IST. 

Both issuances, which will mature on Dec. 17, 2027, and Aug. 18, 2028, have a base size and greenshoe option of INR 250 million each. The coupon on the bonds will be payable monthly. Both bonds are rated "A+" by Crisil Ratings and will be allotted Friday.

PAISALO DIGITAL

Paisalo Digital Ltd. plans to raise up to INR 1.8 billion through the issuance of bonds maturing on Sept. 13, 2036, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1400 IST and 1600 IST Thursday.

The issue has a base size and a greenshoe option of INR 900 million each. The coupon on the bond is fixed at 12.00%, payable quarterly. The bonds are rated "AA+" by Infomerics Valuation and Rating, and will be allotted Friday.

The issue has an event-related call option.

BALLARPUR INDUSTRIES

Ballarpur Industries Ltd. plans to raise INR 1 billion through the issuance of three-year zero-coupon bonds maturing on Sept. 21, 2029, and has invited bids for the same Friday, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 1300 IST and 1400 IST.

The bonds are rated 'B' by Acuite Ratings and will be allotted on Monday. 

SBFC FINANCE

SBFC Finance Ltd. plans to raise INR 1 billion through the issuance of bonds maturing on Jun. 18, 2030, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 0900 IST and 1100 IST Thursday.

The bonds carry a fixed coupon of 8.00%, payable monthly. The bonds are rated "AA-" by ICRA Ltd., and will be allotted Friday. For the June quarter, SBFC Finance reported a net profit of INR 1.30 billion on revenue of INR 4.91 billion. 

CENTURY SILICON CITY

Century Silicon City Pvt. Ltd. plans to raise INR 5.5 billion through the issuance of three-year bonds maturing on Sept. 21, 2029, and has invited bids for the same Friday, dealers said. Bidding for the bonds will take place on the BSE's electronic bidding platform between 0900 IST and 1000 IST.

The coupon on the bond is fixed at 10.00%, payable quarterly. Bonds are rated 'BB' by Care Ratings and will be allotted on Monday.

L&T FINANCE

L&T Finance Ltd. plans to raise up to INR 25 billion through the reissuance of bonds maturing Sept. 28, 2029 and has invited bids for the same Thursday, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform. 

The issue has a base size of INR 6.5 billion and a greenshoe option of INR 18.50 billion. The next coupon on the bonds will be payable on Sept. 28, 2027, and annually thereafter. The bonds are rated 'AAA' by Crisil Ratings and will be allotted on Friday.   

For the June quarter, the company had reported a consolidated net profit of INR 9.02 billion on revenue of INR 52.13 billion.

CANARA BANK

Canara Bank has set a coupon of 8.10% on its Basel III-compliant additional tier-I, perpetual bonds and raised INR 20.42 billion, dealers said. The issue had a base size of INR 20 billion and a greenshoe option of INR 25 billion, as it planned to raise a total of INR 45 billion. 

The issue had a call option exercisable after five years. The bonds were rated 'AA+' by India Ratings and Research, and will be allotted on Friday. For the bond, the company received bids totalling INR 56.83 billion, with coupons ranging from 7.30% to 8.95%, according to the bid book accessed by Informist. A source at the bank had told Informist that the lender was expecting the coupon at around 7.85%, while market participants expected the coupon to be in the range of 7.95-8.0% last week.

A perpetual bond is a debt instrument with no maturity date. The issuer pays out interest on the bond value at a fixed rate, and the bonds are non-redeemable. In July, State Bank of India had raised INR 46.91 billion through perpetual bonds at a coupon of 7.75%. 

In June, Canara Bank's board approved raising INR 45 billion through Basel III-compliant additional tier-I bonds and INR 40 billion through Basel III-compliant tier-II bonds in 2026-27 (Apr-Mar). For the June quarter, Canara Bank reported a net profit of INR 48.56 billion on total income of INR 396.84 billion.

BAJAJ HOUSING FINANCE

Bajaj Housing Finance Ltd. plans to raise up to INR 15 billion through the reissue of 7.87%, August 2036 bonds, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1030 IST and 1130 IST Thursday.

The issue has a base size of INR 5 billion and a greenshoe option of INR 10 billion. The first coupon on the bond is payable on Aug. 4, and annually thereafter. The bonds are rated 'AAA' by Crisil Ratings, and will be allotted Friday.

The non-banking financial company had raised INR 20 billion through the reissue of August 2031 bonds on Sept. 7. For the June quarter, Bajaj Housing Finance reported a net profit of INR 7.15 billion on revenue of INR 30.63 billion.

EQUITAS SMALL FINANCE BANK

Equitas Small Finance Bank Ltd. Wednesday approved the issuance of non-convertible debentures aggregating to INR 5 billion on a private placement basis, the company informed exchanges. 

For the June quarter, the bank had reported net profit of INR 1.84 billion on total income of INR 22.15 billion.

MOTILAL OSWAL FINANCIAL SERVICES

Motilal Oswal Financial Services Ltd. Tuesday raised INR 790 million through the issuance of five-year bonds maturing on Sept. 16, 2031, dealers said. The company had planned to raise up to INR 5.6 billion through the issue.  

The issue had a base size of INR 4 billion and a greenshoe option of INR 1.6 billion. The coupon on the bond is fixed at 8.70%, payable annually. The bonds are rated 'AA+' by Crisil Ratings, and will be allotted Wednesday.

For the June quarter, Motilal Oswal had reported a consolidated net profit of INR 12.73 billion on revenue of INR 34.26 billion.

LIC HOUSING FINANCE
LIC Housing Finance Ltd. Tuesday raised INR 10 billion by issuing three-year bonds at a coupon of 7.87%, dealers said. The company had planned to raise up to INR 35 billion through these bonds. 
The issue had a base size of INR 10 billion and a greenshoe option of INR 25 billion. The coupon on the bond will be payable annually. The bonds were rated 'AAA' by Crisil Ratings and will be allotted Wednesday. 
For the June quarter, LIC Housing Finance had reported a net profit of INR 14.88 billion on revenue of INR 70.62 bln.

POONAWALLA FINCORP

Poonawalla Fincorp Ltd. raised INR 8.50 billion through the issuance of two bonds with different maturities, dealers said. The non-banking financial company raised INR 1 billion through the reissuance of bonds maturing in February 2029. The issue had a base size of INR 1 billion and a greenshoe option of INR 4 billion.

It raised another INR 7.50 billion through the issuance of three-year bonds maturing on Sept. 17, 2029. This issue had a base size and a greenshoe option of INR 7.5 billion each. The issue carried a fixed coupon of 8.3082%, payable annually.

Both the bonds were rated 'AAA' by Crisil Ratings, and both will be allotted Tuesday. For the June quarter, the financier had reported a consolidated net profit of INR 3.08 billion on revenues of INR 23.30 billion. 

NIIF INFRASTRUCTURE FINANCE

NIIF Infrastructure Finance Ltd. Tuesday raised INR 5 billion through the issuance of Nov. 20, 2031 bonds, dealers said. The company planned to raise up to INR 15 billion through the issue. The issue had a base size of INR 5 billion and a greenshoe option of INR 10 billion and carried a fixed coupon of 8.10%, payable annually. 

The bonds were rated "AAA" by ICRA Ratings and will be allotted Wednesday. The issue had received anchor investment of INR 1.40 billion from Axis Bank and INR 100 million from Tata Pension Management Pvt. Ltd. NIIF Infrastructure Finance is an infrastructure debt fund which refinances operational infrastructure projects. 

RELIANCE INDUSTRIES

Reliance Industries Ltd. Tuesday raised INR 120 billion through five-year bonds maturing on Sept. 16, 2031, dealers said. The company had planned to raise up to INR 125 billion through the issue, which had a base size of INR 100 billion and a greenshoe option of INR 25 billion.

The bonds are rated 'AAA' by Crisil Ratings, and will be allotted Wednesday. Axis Bank Ltd., HDFC Bank Ltd, ICICI Bank Ltd., and YES Bank Ltd. were the arrangers of the issue. The issue had received anchor investment aggregating to INR 25.30 billion from Axis Bank, ICICI Bank, HDFC Bank, YES Bank, HSBC Mutual Fund, and LIC Mutual Fund, among others. 

For the June quarter, RIL had reported a consolidated net profit of INR 209.46 billion on revenue of INR 3.12 trillion.

360 ONE ALTERNATES

360 One Alternates Asset Management Ltd. plans to raise up to INR 1.25 billion through the issuance of three-year bonds maturing on Sept. 17, 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 1100 IST and 1200 IST.

The issue has a base size of INR 250 million and a greenshoe option of INR 1 billion. The coupon on the bond will be decided at the time of bidding and will be payable annually. The bonds are rated 'AA' by ICRA Ratings and will be allotted on Thursday. 

TRUST INVESTMENTS

Trust Investments Pvt. Ltd. plans to raise up to INR 1.7 billion through the issuance of two bonds with different maturities and has invited bids for both the bonds on Wednesday, dealers said. Bidding for both bonds will take place on the National Stock Exchange's electronic bidding platform.

The issuance of bonds maturing on Sept. 17, 2031, has a base size and greenshoe option of INR 500 million each, while the issuance of bonds maturing on Sept. 19, 2028 has a base size of INR 500 million and a greenshoe option of INR 200 million. The coupon on the 2031 bond is fixed at 8.90% and the 2028 bond is fixed at 8.50%, both payable annually. The 2031 bond is rated 'AA+' by Acuite Ratings and Research, while the 2028 bond is rated 'AA' by Infomerics Ratings and both will be allotted on Thursday. 

AVAADA VENTURES

Avaada Ventures Pvt. Ltd. plans to raise up to INR 35.15 billion through the issuance of two bonds with different maturities, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1000 IST and 1100 IST Thursday.

The company plans to raise INR 32.40 billion through three-year bonds maturing on Sept. 18, 2029. It plans to raise another INR 2.75 billion through bonds maturing on Sept. 17, 2029.

Each bond carries a fixed coupon of 11.75%, payable semi-annually. The bonds are rated "BBB+" by India Ratings and Research, and both will be allotted Friday.

LAST WEEK

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NOMURA CAPITAL

Nomura Capital (India) Pvt. Ltd. Sept. 11 raised INR 1 billion through the issuance of bonds maturing on Oct. 29, 2027, dealers said. 

The coupon on the bonds was fixed at 8.02% and the first coupon will be paid after the 44 days of the deemed date of allotment and thereafter, annually. The bonds are rated 'AAA' by India Ratings and Research. The issue received anchor investment of INR 300 million from Kotak Mahindra Mutual Fund. 

MOTILAL OSWAL FINANCIAL SERVICES

Motilal Oswal Financial Services Ltd. plans to raise up to INR 5.6 billion through the issuance of five-year bonds maturing on Sept. 16, 2031, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform between 1030 IST and 1130 IST Sept. 15. 

The issue has a base size of INR 4 billion and a greenshoe option of INR 1.6 billion. The coupon on the bond is fixed at 8.70%, payable annually. The bonds are rated 'AA+' by Crisil Ratings, and will be allotted Sept. 16.

For the June quarter, Motilal Oswal had reported a consolidated net profit of INR 12.73 billion on revenues of INR 34.26 billion.

NAVI FINSERV

Navi Finserv Ltd. plans to raise INR 2.75 billion through three bonds with different maturities, including a reissue, dealers said. Bidding for all the three bonds will take place on BSE's electronic platform Sept. 15. 

The non-banking finance company plans to raise INR 1 billion through the issuance of bonds maturing on Dec. 1, 2029. The coupon on the bond is fixed at 10.40%. It also plans to raise INR 750 million through the issuance of bonds maturing on Oct. 31, 2028. The coupon on the bond is fixed at 10.30%. 

Navi Finserv plans to raise the remaining INR 1 billion through the reissue of 10.30%, May 2028 bonds. All the three bonds are rated 'A' by Care Ratings. The coupon on all three bonds is payable monthly and all three will be allotted Sept. 15. 

EDELWEISS ASSET RECONSTRUCTION

Edelweiss Asset Reconstruction Co. Ltd. plans to raise INR 1.25 billion through the reissuance of zero-coupon bonds maturing on Oct. 6, 2029, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1000 IST and 1200 IST Sept. 16.

The bonds are rated 'A+' by Crisil Ratings, and will be allotted Sept. 17.

LIC HOUSING FINANCE

LIC Housing Finance Ltd. plans to raise up to INR 35 billion by issuing three-year bonds, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform Sept. 15.

The issue has a base size of INR 10 billion and a green shoe option of INR 25 billion. The coupon on the bond, which is yet to be decided, will be payable annually. The bonds, rated 'AAA' by Crisil Ratings, will be allotted Sept. 16.

For the June quarter, LIC Housing Finance had reported a net profit of INR 14.88 billion on revenues of INR 70.62 bln.

KEERTANA FINSERV

Keertana Finserv Ltd. plans to raise up to INR 5 billion through the issuance of Dec. 16, 2028 bonds, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1100 IST and 1700 IST Sept. 15.

The issue has a base size of INR 3 billion and a greenshoe option of INR 2 billion. The coupon on the issue is fixed at 11.70%, payable monthly. The bonds are rated "A-" by Acuite Ratings and will be allotted Sept. 16. 

REC

State-owned REC Ltd. Sept. 11 raised INR 70 billion by issuing two bonds, maturing in five years and 10 years, dealers said. Both the bonds were fully subscribed.

REC raised INR 40 billion through bonds maturing on Sept. 30, 2036, at a coupon of 7.73%. The issue had a base size of INR 8 billion and a greenshoe option of INR 32 billion. For the bond, the company received 59 bids totalling INR 61.81 billion, with coupons ranging from 7.40% to 7.80%, according to the bid book accessed by Informist.

The company raised INR 30 billion by issuing a bond maturing on Sept. 30, 2031, at 7.67%. The five-year bond had a base size of INR 5 billion and a greenshoe option of INR 25 billion. The company received 60 bids aggregating over INR 62 billion in the coupon range of 7.35-7.78%, according to the bid book.

Both bonds were rated "AAA" by ICRA Ratings and will be allotted Sept. 16. For the June quarter, REC had reported a net profit of INR 41.49 billion on revenues of INR 142.96 billion. 

Sept. 7, REC issued the country's first tokenised bond and raised INR 5 billion at a coupon of 7.40%. REC had issued its maiden tokenised bond under the Demat 2.0 Framework on the National Stock Exchange's electronic bidding platform. 

RELIANCE INDUSTRIES

Reliance Industries Ltd. plans to raise up to INR 125 billion through five-year bonds maturing on Sept. 16, 2031, dealers said. Bidding for the bonds will take place on BSE's electronic platform between 1045 IST and 1145 IST Sept. 15. 

The issue has a base size of INR 100 billion and a greenshoe option of INR 25 billion. The bonds are rated 'AAA' by Crisil Ratings, and will be allotted Sept. 16. The company had raised INR 70 billion through commercial papers maturing in three months at 6% last week, two dealers aware of the issuance had said.

Axis Bank Ltd., HDFC Bank Ltd, ICICI Bank Ltd., and YES Bank Ltd. are the arrangers of the issue. The issue has received anchor investments aggregating to INR 25.30 billion from Axis Bank, ICICI Bank, HDFC Bank, YES Bank, HSBC Mutual Fund, and LIC Mutual Fund, among others. 

For the June quarter, RIL had reported a consolidated net profit of INR 209.46 billion on revenue of INR 3.12 trillion.

UTKARSH SMALL FINANCE BANK

Utkarsh Small Finance Bank plans to raise up to INR 3 billion through the issuance of non-convertible debentures on a private placement basis in one or more tranches, subject to statutory and regulatory approvals, the bank said in an exchange filing Sept. 11. The bonds maturing in seven years carry a coupon of 11.75%, payable quarterly. The non-convertible debentures are to be listed on the wholesale debt market segment of BSE Ltd.   

The issuance has a base size of INR 2 billion and a greenshoe option of INR 1 billion. The board of the bank has approved the issuance of INR 5 billion worth of non-convertible debentures on a private placement basis in one or more tranches in financial year (Apr-Mar) 2026-27.    

Utkarsh Small Finance Bank recorded a net loss of INR 339.20 million for the June quarter on total income of INR 10.02 billion. 

EDELWEISS FINANCIAL SERVICES

Edelweiss Financial Services Ltd. plans to raise up to INR 3 billion through a public issue of secured, redeemable non-convertible debentures, the company said in an exchange filing. The offering comprises a base issue size of INR 1.50 billion and a greenshoe option to retain oversubscription of up to an additional INR 1.50 billion. The issue is scheduled to open for public subscription on Sept. 21 and close on Oct. 5.

The NCD issue features 10 series options with fixed coupon rates ranging from 8.65% to 10.00% per annum across tenors of 24, 36, 60, and 120 months. For the June quarter, the company reported an 83% on-year jump in its consolidated net profit at INR 1.22 billion on revenue of INR 23.29 billion.

CANARA BANK

Canara Bank will tap the corporate bond market on Sept. 16 to raise up to INR 45 billion through the issuance of Basel III-compliant perpetual, additional tier-I bonds, a source aware of the development said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform between 1200 IST and 1300 IST Sept. 16. 

The issue has a base size of INR 20 billion and a greenshoe option of INR 25 billion. The coupon on the bond will be decided at the time of the bidding. A source in the bank told Informist that the lender expects the coupon to be around 7.85%. The issue has a call option exercisable after five years. The bonds are rated 'AA+' by India Ratings and Research, and will be allotted on Sept. 18.

A perpetual bond is a debt instrument that has no maturity date. The issuer pays out interest on the bond value at a fixed rate, and the bonds are non-redeemable. In July, State Bank of India had raised INR 46.91 billion through perpetual bonds at a coupon of 7.75%. 

In June, Canara Bank's board approved raising INR 45 billion through Basel III-compliant additional tier-I bonds and INR 40 billion through Basel III-compliant tier-II bonds in 2026-27 (Apr-Mar). For the June quarter, Canara Bank reported a net profit of INR 48.56 billion on total income of INR 396.84 billion.

SUNDARAM HOME FINANCE

Sundaram Home Finance Ltd. Sept. 10 raised INR 5.10 billion through five-year bonds maturing on Sept. 11, 2031, dealers said. The issue was fully susbcribed. 

The coupon on the bond was fixed at 8.09%, payable annually. The bonds are rated 'AAA' by ICRA Ltd. and will be allotted Sept. 11. The issue had received anchor investment of INR 1.5 billion from Bajaj Life Insurance Ltd. and INR 30 million from India Motor Parts and Accessories Ltd. Sundaram Home Finance is a wholly-owned subsidiary of Sundaram Finance Ltd.

HELLA INFRA MARKET RETAIL

Hella Infra Market Retail Pvt. Ltd. plans to raise up to INR 1.25 billion by issuing two-year bonds maturing on Sept. 16, 2028, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1530 IST Sept. 15.

The bond issue has a base size of INR 500 million and a green shoe option of INR 750 million. The bond coupon is fixed at 11%, payable monthly. The bonds, rated 'A-' by Acuite Ratings & Research, will be allotted Sept. 16. 

POONAWALLA FINCORP

The board of Poonawalla Fincorp Ltd. Sept. 10 approved the issuance of non-convertible debentures aggregating to INR 20 billion on a private placement basis, the company informed exchanges. 

For the June quarter, Poonawalla Fincorp had reported a consolidated net profit of INR 3.08 billion on revenues of INR 23.30 billion. 

OXYZO FINANCIAL SERVICES

Oxyzo Financial Services Pvt. Ltd. plans to raise INR 2 billion by issuing two bonds of different maturities, and has invited bids Sept. 11, dealers said. The company plans to raise INR 1 bln through Oct. 15, 2029, bonds at a fixed coupon of 9.90%, and the remaining INR 1 bln via Oct. 15, 2028, bonds at a fixed coupon of 9.70%. the coupon on both bonds will be paid quarterly. 

Bidding for the bonds will take place on BSE's electronic bidding platform. The bonds, rated "A+" by ICRA Ratings, will be allotted Sept. 15. Oxyzo Financial Services is a non-banking financial company that caters to small and medium-sized enterprises and emerging manufacturing corporations. 

HERO FINCORP

Hero Fincorp Ltd. plans to raise up to INR 5 billion through the issuance of two-year floating rate bonds maturing on Sept. 15, 2028, and has invited bids for the same Sept. 11, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic bidding platform.

The issue has a base size of INR 1 billion and a greenshoe option of INR 4 billion. The coupon on the bonds is fixed at 330 basis points above the three-month Treasury bill and will be paid annually. The bonds are rated 'AA+' by Crisil Ratings and will be allotted on Sept. 15.

360 ONE PRIME

360 ONE Prime Ltd. raised INR 1.05 billion through the reissue of bonds maturing on Jun. 19, 2029, dealers said. The issue had a base size of INR 500 million and a greenshoe option of INR 2 billion. The company had planned to raise up to INR 2.50 billion.

The bond is rated "AA" by ICRA. The coupon on the bond will be payable annually. The bonds will be allotted Sept. 10.

GABRIEL INDIA

Gabriel India Ltd. raised INR 10 billion through three-year bonds maturing on Sept. 10, 2029, dealers said. The issuance was fully subscribed.

The bonds, rated "AA+" by Crisil Ratings, will be allotted Sept. 10. They carry a fixed coupon of 8.15%, which will be paid on an annual basis. Citigroup Global Markets India Pvt. Ltd. and HSBC were the arrangers of the issuance. 

The issuance had received anchor investment of INR 1.5 billion from ICICI Prudential Corporate Bond Fund, INR 600 million from Nippon India Mutual Fund, INR 750 million from ICICI Prudential Life Insurance Co. Ltd., and INR 150 million from Reliance General Insurance Co. Ltd.

SHANGRILA INFRACON INDIA

Shangrila Infracon India Pvt. Ltd., a real estate development company, raised INR 11 billion through the issuance of three-year bonds maturing on Sept. 10, 2029, dealers said. 

The coupon on the bonds was fixed at 9.25%, payable annually. The bonds are rated "BBB-" by CARE Ratings and will be allotted Sept. 10. Barclays Bank PLC. was the sole arranger of the issuance. The bonds have call and put options exercisable on Mar. 10, 2028, and quarterly thereafter.

L&T

L&T Ltd. Sept. 16 raised INR 5 billion through the issuance of three-year tokenised bonds maturing on Sept. 9, 2029, dealers said. The bonds were fully subscribed. 

The bonds carry a fixed coupon of 7.40%, payable annually. SBI Capital Markets Ltd., YES Bank, Axis Bank, and Trust Investment Advisors Pvt. Ltd. were the arrangers of the issuance. Crisil Ratings has assigned 'AAA' ratings to the bonds. 

The bond had received an anchor investment of INR 450 million from YES Bank. Sept. 7, state-owned REC Ltd. issued India's first tokenised bond to raise INR 5 billion at 7.30%. Tokenised bonds are debt securities whose ownership, issuance, trading and settlement are recorded digitally on a blockchain or distributed ledger. The technology can allow transactions to be completed almost instantly, faster than the traditional process of recording and settling bond transactions.

For the June quarter, L&T had reported a consolidated net profit of INR 41.23 billion on revenue of INR 679.42 billion. 

VIVRITI CAPITAL

Vivriti Capital Ltd. plans to raise INR 1.5 billion through two bonds with different maturities, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1530 IST Sept. 10.

The company plans to raise INR 500 million through bonds maturing on Mar. 10, 2028, at a fixed coupon of 9.35%, while the remaining INR 1 billion it plans to raise via bonds maturing on Sept. 8, 2028, at a coupon of 9.5%. Both the bonds are rated "A+" by Crisil Ratings, and will be allotted Sept. 11. The coupon on both bonds is payable monthly. 

SAMMAAN CAPITAL

Sammaan Capital Ltd. plans to raise up to INR 10 billion through two bonds with different maturities, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1400 IST and 1600 IST Sept. 10.
Both the bonds--a three-year and a five-year paper--have a base size and a green shoe option of INR 2.5 billion each. The three-year bond has a fixed coupon of 9.05%, while the five-year bond carries a fixed coupon of 9.10%. The coupon on both the bonds is payable annually. Both the bonds are rated "AA+" by Crisil Ratings, and both of them will be allotted Sept. 11.

For the June quarter, Sammaan Capital had reported consolidated net profit of INR 2.43 billion on revenues of INR 16.52 billion. 

SHRIRAM FINANCE

Shriram Finance Ltd. Sept. 8 raised INR 22.20 billion through the reissue of its 7.80%, September 2029 bond, dealers said. The company had planned to raise up to INR 30 billion through the reissue.

The issue had a base size of INR 10 billion and a greenshoe option of INR 20 billion. The coupon on the bonds is payable annually. The bonds, rated "AAA" by ICRA Ltd., will be allotted Sept. 9. Axis Bank Ltd. was the sole arranger of the issuance.

For the June quarter, Shriram Finance had reported a net profit of INR 34.45 billion on revenues of INR 133.94 billion. 

PIRAMAL FINANCE

The board of Piramal Finance Ltd. Sept. 8 approved the issuance of non-convertible debentures aggregating to INR 20 billion on a private placement basis. The three-year 45-day bond will be allotted on Sept. 21 and will mature on Nov. 5, 2029, the company informed the exchanges.

The coupon on the bond is fixed at 8.57%, payable annually and on the date of redemption. For the June quarter, Piramal Finance had reported a consolidated net profit of INR 4.59 billion on revenues of INR 33.68 billion.

HDB FINANCIAL SERVICES

HDB Financial Services Ltd. Sept. 8 raised INR 20 billion through the reissue of a bond maturing in August 2029, dealers said. The issuance was fully subscribed. 

The issue had a base size and a greenshoe option of INR 10 billion each. The coupon on the bond is payable annually. Axis Bank Ltd. was the sole arranger of the issuance. The issue had received anchor investment of INR 1.5 billion from International Finance Corp.

The bond, rated "AAA" by Crisil Ratings, will be allotted Sept. 9. For the June quarter, HDB Financial had reported a net profit of INR 7.85 billion on revenues of INR 49.38 billion.

ADITYA BIRLA CAPITAL

Aditya Birla Capital Ltd. Sept. 8 raised a total of INR 23.35 billion through the reissuance of four bonds with different maturities, dealers said. The company had planned to raise up to INR 45 billion through the reissues.

The financial services company raised INR 11.10 billion through the reissue of the September 2029 bond and INR 3.25 billion through the reissue of the August 2031 bond. It raised INR 4.50 billion each through the reissue of the May 2029 and June 2031 bonds.

All four bonds are rated "AAA" by Crisil Ratings and will be allotted Sept. 9. For the June quarter, Aditya Birla Capital had reported a consolidated net profit of INR 11.75 billion on revenues of INR 121.80 billion.

IIFL FINANCE

IIFL Finance Ltd. raised INR 1 billion through seven-year bonds maturing on Sept. 8, 2033, dealers said. The issue had a base size of INR 1 billion and a greenshoe option of INR 500 million, and it planned to raise up to INR 1.5 billion.  

The bonds were rated "AA" by Crisil Ratings. The bonds carried a coupon of 9.35%, payable annually. For the June quarter, IIFL Finance had reported a consolidated net profit of INR 6.75 billion on revenues of INR 39.19 billion. 

VERTIS INFRA

Vertis Infrastructure Trust plans to raise INR 14.25 billion through the issuance of six-year bonds maturing on Sept. 10, 2032, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1200 IST Sept. 9.

The coupon on the bonds is fixed at 7.63%, payable quarterly. The bonds are rated "AAA" by Crisil Ratings and will be allotted Sept. 10. India Infrastructure Finance Co. Ltd. is the sole anchor investor and made an investment of INR 4.28 billion.

PNB HOUSING FINANCE

PNB Housing Finance Ltd. Sept. 7 approved the issuance of non-convertible debentures of up to INR 100 billion, with or without a green shoe option, on a private placement basis in one or more tranches. The debentures are proposed to be listed on the wholesale debt market segment of the National Stock Exchange and/or BSE, the company said in an exchange filing. Other details of the debentures, such as the tenure and coupon, will be provided at the time of allotment of the respective debentures.

For the June quarter, the housing finance company had reported consolidated net profit of INR 5.57 billion on revenues of INR 22.63 billion.

BAJAJ FINANCE

Bajaj Finance Ltd. Sept. 7 raised INR 20.5 billion through the reissue of bonds maturing on Mar. 25, 2030, dealers said. The bonds were rated "AAA" by Crisil Ratings, and will be allotted Sept. 8. The reissue had a base size and a green shoe option of INR 20 billion each.

For the June quarter, Bajaj Finance had reported consolidated net profit of INR 59.86 billion on revenues of INR 231.65 billion.

GMR AIRPORTS

GMR Airports Ltd. Sept. 7 raised INR 15 billion through bonds maturing on Sept. 9, 2029, dealers said. The bonds were rated "AA-" by Crisil Ratings and will be allotted Sept. 9. The bonds carried a fixed coupon of 5%, payable annually. The company had received anchor investment of INR 3.6 billion from various investors including Barclays Merchant Bank Singapore Ltd., Aditya Birla Sunlife Asset Management Co., Goldman Sachs India Finance Pvt. Ltd, and others. Deutsche Bank AG was the arranger for the issue. 

For the June quarter, GMR Airports had reported consolidated net profit of INR 910.4 million on revenues of INR 39.64 billion.

MOTILAL OSWAL FINANCIAL SERVICES

Motilal Oswal Financial Services Ltd. Sept. 7 approved issuance of non-convertible debentures aggregating to INR 2 billion on a private placement basis. The debentures are proposed to be listed on the National Stock Exchange and the tenure of the bond will be five years, the company said in an exchange filing. The issue has a base size of INR 400 million with a greenshoe option of up to INR 1.6 billion.

For the June quarter, Motilal Oswal had posted consolidated net profit of INR 12.73 billion on revenues of INR 34.26 billion. 

TATA CAPITAL

Tata Capital Ltd. has raised INR 30 billion through bonds maturing on Sept. 7, 2029, at a coupon of 8.05%, dealers said. The bonds were rated "AAA" by Crisil Ratings and will be allotted Sept. 8. The issue had received an anchor investment of INR 5.25 billion from ICICI Bank Ltd., which was also the arranger for the issue.

For the June quarter, Tata Capital had posted consolidated net profit of INR 15.5 billion on revenues of INR 88.2 billion. 

BAJAJ HOUSING FINANCE

Bajaj Housing Finance Ltd. has raised INR 20 billion through the reissue of bonds maturing on Aug. 20, 2031, dealers said. The bonds were rated "AAA" by Crisil Ratings, and will be allotted Sept. 8. The reissue had a base size of INR 5 billion and a greenshoe option of INR 15 billion.

For the June quarter, Bajaj Housing Finance had reported net profit of INR 7.15 billion on revenues of INR 30.63 billion. 

KOTAK MAHINDRA PRIME

Kotak Mahindra Prime Ltd. raised INR 7 billion through the issuance of bonds maturing on Oct. 21, 2031, dealers said. The bond carries a coupon of 8.15%, payable annually.

The bonds, rated "AAA" by Crisil Ratings, will be allotted on Sept. 8. The non-banking financial company had raised INR 4 billion through the reissue of October 2029 bonds in August.

REC

State-owned power financier REC Ltd. issued the country's first tokenised bond and raised INR 5 billion Sept. 7, dealers said. REC issued its maiden tokenised bond under the Demat 2.0 Framework on the National Stock Exchange's electronic bidding platform. 

Market participants said the coupon on the bond was in line with expectations. According to the term sheet, the issue, which had a base size of INR 1 billion and a greenshoe option of INR 4 billion, was fully subscribed. The bond will mature on May 31, 2028, implying a tenor of 1 year, 8 months, 24 days. The bond, rated "AAA" by domestic rating agencies, will be allotted Sept. 7.

Tokenised bonds are debt securities whose ownership, issuance, trading, and settlement are recorded digitally on a blockchain or distributed ledger. The technology can allow transactions to be completed almost instantly, faster than the traditional process of recording and settling bond transactions. India's depositories are building a new electronic wallet named Demat 2.0 to record bond ownership on a distributed ledger, with subsequent trading limited to investors who have compatible central bank digital currency and securities wallets.

The issue was part of a pilot project being anchored by the Securities and Exchange Board of India in coordination with the Reserve Bank of India. The bonds will use blockchain technology for settlement, on the lines of central bank digital currency transactions that happen instantly through central bank digital currency wallets.

For the June quarter, REC had reported a net profit of INR 41.49 billion and total income of INR 143.31 billion. 

LAST FORTNIGHT

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AXISCADES TECHNOLOGIES

The board of AXISCADES Technologies Ltd. on Sept. 5 approved fundraising of up to INR 2 billion through unlisted non-convertible debentures on a private placement basis, the company informed exchanges. The bonds will be of a tenure of up to 60 months, with prepayment options by the issuer and a put option by investors, subject to conditions, the filing said. The coupon on the bonds will be 12.50% per annum, with interest payable quarterly. The date of allotment of the bonds will be "determined by the company subsequently at the time of signing of definitive agreements," the filing said.

The funds raised will be used for the acquisition of Cloud Wave Technologies Pvt. Ltd., a Bengaluru-based company in the precision engineering and manufacturing industry, the filing said. The funds will also be used to finance related transaction expenses, it said. In August, the company had said it would acquire a 90% stake in Cloud Wave Tech for around INR 2.34 billion, with the acquisition expected to be completed by the end of this month. For the June quarter, the company reported a consolidated net loss of INR 148.33 million on revenues of INR 1.83 billion.

GMR AIRPORTS

GMR Airports Ltd. plans to raise INR 15 billion through three-year bonds maturing on Sept. 9, 2029, dealers said. Bidding for the bond will take place on the BSE's electronic bidding platform on Sept. 7. The bonds, rated "AA-" by Crisil Ratings, will be allotted on on Sept. 9.

MUTHOOT MICROFIN

Muthoot Microfin Ltd. plans to raise INR 2.5 billion through bonds maturing on Sept. 8, 2028, dealers said. Bidding for the bond will take place on the BSE's electronic platform between 1200 IST and 1300 IST on Sept. 7.

The bonds are rated "AA-" by Crisil Ratings and will be allotted on Sept. 8. The bonds will carry a coupon of 9.25%.

KUANTUM PAPERS

Kuantum Papers Ltd. on Sept. 3 approved the allotment of non-convertible debentures aggregating to INR 1 billion on a private placement basis, the company informed exchanges. The debentures will mature on Jun. 2, 2030. The debentures were issued at 12.70%, payable monthly.

POWER FINANCE CORP.

Power Finance Corp. Ltd. raised INR 42.44 billion through two bonds of different maturities on Sept. 3, dealers said. The state-owned company had planned to raise up to INR 50 billion via two bonds of INR 25 billion each.

The power financier raised INR 22.69 billion via 10-year bonds maturing Sept. 8, 2036, at a coupon of 7.61% and INR 19.75 billion via five-year bonds maturing Sept. 8, 2031, at 7.60%. Coupons on both bonds are payable annually. Both bonds were rated "AAA" by Crisil Ratings and will be allotted on Sept. 7.

For the June quarter, PFC had reported a net profit of INR 47.45 billion on revenues of INR 139.93 billion.

On Aug. 24, Power Finance Corp. had withdrawn its three-year bond issuance as investors had demanded a higher coupon. Meanwhile, the company raised INR 25 billion through 15-year bonds at 7.55%, which were fully subscribed. The state-owned company had planned to raise up to INR 50 billion through two bonds--a three-year paper and a 15-year paper.

ALPHAGREP SECURITIES

Alphagrep Securities Pvt. Ltd. plans to raise up to INR 2 billion through the issuance of bonds maturing Sept. 12, 2027, dealers said. Bidding for the bonds will take place on the National Stock Exchange's electronic platform on Sept. 7.

The issue has a base size and a green-shoe option of INR 1 billion each. The coupon on the bond is fixed at 10.50%, payable quarterly. The bonds are rated "A+" by Crisil Ratings and will be allotted on Sept. 8.

BALKRISHNA INDUSTRIES

Balkrishna Industries Ltd. has raised INR 5.5 billion from three bonds with different maturities, dealers said. All three bonds were fully subscribed and were rated "AA+" by ICRA Ltd.

The company raised INR 2 billion from two-year bonds at a fixed coupon of 7.35%. It raised another INR 2.25 billion from three-year bonds at a fixed coupon of 7.38%. The company raised the remaining INR 1.25 billion from four-year bonds at a fixed coupon of 7.40%. The coupon on all the three bonds will be payable annually. All three bonds will be allotted on Sept. 3.

For the June quarter, Balkrishna Industries had reported net profit of INR 4.32 billion on revenues of INR 34.45 billion.

AAVAS FINANCIERS

The board of Aavas Financiers Ltd. on Sept. 2 approved the issuance of non-convertible debentures on a private placement basis worth INR 1 billion, the company informed exchanges. The debentures are proposed to be listed on the wholesale debt market segment of BSE, the housing financier said. The bonds will mature in five years from deemed date of allotment and coupon will be payable quarterly, the company said.

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

CREDITACCESS GRAMEEN

The board of CreditAccess Grameen Ltd. on Sept. 2 approved the allotment of two series of non-convertible debentures on a private placement basis worth INR 3 billion, the company informed exchanges. The company's debentures were fully subscribed, as planned, for a total fundraise of INR 3 billion through two series with different maturities.

The board approved allotment of series-I debentures worth INR 1 billion maturing on Sept. 2, 2028, at a fixed coupon of 9.15%, and series-II debentures worth INR 2 billion maturing on Sept. 2, 2029, at a fixed coupon of 9.25%. Coupons on both the debentures will be paid annually. The debentures will be listed on the wholesale debt market segment of BSE, the microfinance lender said.

For the June quarter, the company had reported net profit of INR 4.93 billion on revenues of INR 17.83 billion.

IIFL FINANCE

The board of IIFL Finance Ltd. on Sept. 2 approved the allotment of non-convertible debentures worth INR 3.5 billion, the company informed exchanges. The two-year bonds will mature on Sept. 1, 2028.

The coupon on the bond is fixed at 9.25%, payable annually. For the June quarter, IIFL Finance had reported a consolidated net profit of INR 6.75 billion on revenues of INR 39.19 billion.

L&T FINANCE

L&T Finance Ltd. raised INR 5 billion through the reissue of 7.8384%, September 2029 bonds, dealers said. The company had planned to raise up to INR 10 billion with the issuance, which had a base size and a greenshoe option of INR 5 billion each.

The bond, rated "AAA" by Crisil Ratings, will be allotted on Sept. 2. For the June quarter, L&T Finance had reported consolidated net profit of INR 9.02 billion on revenues of INR 52.13 billion.

CHOLAMANDALAM INVESTMENT AND FINANCE

Cholamandalam Investment and Finance on Aug. 31 raised INR 20 billion through the issuance of subordinated, perpetual bonds, dealers said.

The coupon on the bond was fixed at 9.87%, payable annually. The bonds were rated 'AA+' by ICRA Ltd. The issue carried a call option, exercisable on Sept. 2, 2036. SBI Mutual Fund had made an anchor investment of INR 6 billion.

For the June quarter, Cholamandalam Investment had reported net profit of INR 16.54 billion on revenues of INR 88.33 billion.

AKARA CAPITAL ADVISORS

Akara Capital Advisors Pvt. Ltd. plans to raise up to INR 1 billion through the issuance of bonds maturing on Dec. 3, 2027, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1600 IST on Sept. 2.

The issue has a base size of INR 250 million and a greenshoe option of INR 750 million. The coupon on the bond is fixed at 12.5%, payable monthly. The bonds are rated "BBB+" by Acuite Ratings and Research and will be allotted on Sept. 3.

BALKRISHNA INDUSTRIES

Balkrishna Industries Ltd. plans to raise a total of INR 5.5 billion through the issuance of three bonds with different maturities, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1030 IST and 1200 IST on Sept. 2.

The company plans to raise INR 2 billion through the issuance of two-year bonds at a fixed coupon of 7.35%. It plans to raise another INR 2.25 billion through the issuance of three-year bonds at a fixed coupon of 7.38%. The company plans to raise the remaining INR 1.25 billion through four-year bonds at a fixed coupon of 7.40%. The coupon on all the three bonds is payable annually. All three bonds are rated "AA+" by ICRA Ltd., and those will be allotted on Sept. 3.

For the June quarter, Balkrishna Industries had reported a net profit of INR 4.32 billion on revenues of INR 34.45 billion.

SIDBI

The Small Industries and Development Bank of India on Sept. 1 raised INR 58.89 billion at a 7.70% coupon through the issuance of bonds maturing Oct. 10, 2029, dealers said. The state-owned financial institution had planned to raise up to INR 60 billion through the bond.

The issue had a base size of INR 20 billion and a green-shoe option of INR 40 billion. SIDBI received bids aggregating to INR 139.65 billion in the coupon range of 7.47-7.89%, according to the bid book accessed by Informist. The base size was getting subscribed at 7.68%, while the full issue, including the green shoe option, was getting subscribed at 7.71%.

The coupon on the bonds will be payable annually. The bonds are rated 'AAA' by Crisil Ratings and will be allotted on Sept. 3.

ADITYA BIRLA CAPITAL

Aditya Birla Capital Ltd. plans to raise up to INR 5 billion through the reissue of zero-coupon bonds maturing on Jun. 25, 2031, dealers said. Bidding for the bonds will take place on the BSE's electronic platform between 1100 IST and 1200 IST on Sept. 1. The issue has a base size of INR 3 billion and a greenshoe option of INR 2 billion. The bonds, rated "AAA" by Crisil Ratings, will be allotted on Sept. 2.

For the June quarter, Aditya Birla Capital had reported consolidated net profit of INR 11.75 billion on revenues of INR 121.80 billion.

ECAP EQUITIES

ECap Equities Ltd. plans to raise INR 2.75 billion through the issuance of bonds maturing on Apr. 25, 2031, and has invited bids for the same on Sept. 1, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 1000 IST and 1400 IST.

The coupon on the bond is fixed at 10.35%, payable quarterly. The bonds are rated "A+" by Crisil Ratings and will be allotted on Sept. 2. ECap Equities is a wholly-owned subsidiary of Edelweiss Financial Services Ltd.

PROGFIN

Progfin Pvt. Ltd. plans to raise up to INR 1.50 billion through the issuance of bonds maturing Jan. 2, 2028, and has invited bids for the same on Sept. 1, dealers said. Bidding for the bonds will take place on BSE's electronic bidding platform between 1000 IST and 1600 IST.

The coupon on the bond is fixed at 10%, payable monthly. The bonds are rated "BBB+" by ICRA Ratings and will be allotted on Sept. 2. The company provides collateral-free working capital and supply chain financing to small retailers and micro, small, and medium enterprises.  End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Written by Nandini Sinha

Edited by Shubhayan Bhattacharya

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