Primary Corporate Bond Market

3 Sept 2022

Indian corporates raise Rs 530.35 billion in Private Placements of Debt in Aug 2022.

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During August 2022, issuers including Bajaj Finance, PFC, SIDBI issued bonds through private placement.

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Ketan Verma

Private Placements – August 2022

During Aug 2022, 185 issuers in total raised Rs 530.35 billion through private placements. Bajaj Finance raised Rs 60 billion by issuing 2 bonds, Power finance corporation raised Rs 54.2 billion by issuing 2 bonds with 3 years & 4years maturity bonds. SIDBI raised Rs 40 billion by issuing 1 bond with 4 years of maturity. STFC raised Rs 33 billion by issuing 1 bond with 10 years of maturity. LIC Housing raised Rs 30 billion by issuing 3 bonds with 1.5 years, 3 years & 10 years of maturity.

Rating Updates – August 2022

During August 2022, ICRA affirmed rating of issuers including Birla Corporation Limited, Dixon Technologies (India) Limited, Mphasis Limited, Kogta Financial India Limited, MGM Consulting Services Private Limited, Krano Minerals, Birla Group Holdings Private Limited, Kwality Pharmaceuticals Ltd, Techno Electric & Engineering Company Limited, SMC Global Securities Limited   while it upgraded ratings of  issuers such as Tata AIG General Insurance, Biological E. Limited etc.

During August 2022, CRISIL affirmed ratings of issuers such as Nichrome India Limited, Associated Hospitality Private Limited, Ralson India Ltd, Sun Pharma Laboratories Limited, SSIPL Lifestyle Private Limited, while it assigned rating to issuers including HPCL, Apollo Papers Llp, Mohit Ispat Private Limited, Lazuline Biotech Private Limited etc.

Information herein is believed to be reliable but Arjun Parthasarathy Editor: does not warrant its completeness or accuracy. Opinions and estimates are subject to change without notice. This information is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The financial markets are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved. Unauthorized copying, distribution or sale of this publication is strictly prohibited. The author(s) of the content published in the site may or may not have investments in the assets discussed in the pages/posts.

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