Latest news with #IRBInfrastructureTrust
Mint
9 hours ago
- Business
- Mint
Corporate bond fundraising set to hit new highs as firms look to raise ₹30,000 crore over next 3 weeks
India's record run in corporate bond issuance is expected to continue through August, as higher-rated companies and banks rush to tap the market for cheaper fundraising, underscoring a broader shift in corporate financing strategies amid declining bond yields and ample liquidity, investors said on Monday. Indian firms are expected to raise at least 300 billion rupees ($3.43 billion) via bonds over the next three weeks, traders said. Issuers including Manipal Hospitals, State Bank of India, IRB Infrastructure Trust, Delhi International Airport, Torrent Investments, Power Grid Corp and GMR Airports are among those expected to tap the market this month. None of the firms responded to Reuters' emails seeking comment. "We roughly have an average supply of 1 trillion rupees per month and we expect this trend to sustain, with fundraising rising to another record this year," said Pranav Haldea, managing director at Prime Database Group. Firms raised 4.07 trillion rupees via bonds in April–July, the highest ever for the first four months of a financial year, according to Prime Database, highlighting the growing appeal of the corporate bond market over traditional bank loans amid favourable rate conditions. Yields on corporate bonds have dropped sharply following the Reserve Bank of India's 100-basis-point rate cut between February and June, coupled with large liquidity infusions, making bond markets more attractive than bank lending, a trend that is expected to persist. "Rate transmission in the bond market is faster as it discounts rate expectations, unlike traditional bank lending," said Vinay Pai, head of fixed income at investment banking firm Equirus Capital. According to the State Bank of India, the incremental share of bank credit in overall resource mobilisation fell to 31.3% in the last financial year and to 22% in April–June, down from 44.6% in FY24. Dovish central bank actions have ensured ample liquidity, with investors chasing supply.
Business Recorder
10 hours ago
- Business
- Business Recorder
Corporate bond fundraising in India set to hit new highs as firms chase low-cost capital
MUMBAI: India's record run in corporate bond issuance is expected to continue through August, as higher-rated companies and banks rush to tap the market for cheaper fundraising, underscoring a broader shift in corporate financing strategies amid declining bond yields and ample liquidity, investors said on Monday. Indian firms are expected to raise at least 300 billion rupees ($3.43 billion) via bonds over the next three weeks, traders said. Issuers including Manipal Hospitals, State Bank of India, IRB Infrastructure Trust, Delhi International Airport, Torrent Investments, Power Grid Corp and GMR Airports are among those expected to tap the market this month. None of the firms responded to Reuters' emails seeking comment. 'We roughly have an average supply of 1 trillion rupees per month and we expect this trend to sustain, with fundraising rising to another record this year,' said Pranav Haldea, managing director at Prime Database Group. Firms raised 4.07 trillion rupees via bonds in April–July, the highest ever for the first four months of a financial year, according to Prime Database, highlighting the growing appeal of the corporate bond market over traditional bank loans amid favorable rate conditions. Yields on corporate bonds have dropped sharply following the Reserve Bank of India's 100-basis-point rate cut between February and June, coupled with large liquidity infusions, making bond markets more attractive than bank lending, a trend that is expected to persist. Indian equity MF inflows soar to record high in July 'Rate transmission in the bond market is faster as it discounts rate expectations, unlike traditional bank lending,' said Vinay Pai, head of fixed income at investment banking firm Equirus Capital. According to State Bank of India, the incremental share of bank credit in overall resource mobilisation fell to 31.3% in the last financial year and to 22% in April–June, down from 44.6% in FY24. Dovish central bank actions have ensured ample liquidity, with investors chasing supply. 'There is ample demand from mutual funds, as we are in a lower-for-longer scenario. Demand from mutual funds will continue in the up-to-five-year space, and some funds may also start looking at AA+ and AA-rated papers to play for spread compression,' said Anurag Mittal, head of fixed income at UTI Asset Management.
Mint
12 hours ago
- Business
- Mint
Corporate bond fundraising set to hit new highs as firms look to raise ₹30,000 crore over next 3 weeks
India's record run in corporate bond issuance is expected to continue through August, as higher-rated companies and banks rush to tap the market for cheaper fundraising, underscoring a broader shift in corporate financing strategies amid declining bond yields and ample liquidity, investors said on Monday. Indian firms are expected to raise at least 300 billion rupees ($3.43 billion) via bonds over the next three weeks, traders said. Issuers including Manipal Hospitals, State Bank of India, IRB Infrastructure Trust, Delhi International Airport, Torrent Investments, Power Grid Corp and GMR Airports are among those expected to tap the market this month. None of the firms responded to Reuters' emails seeking comment. "We roughly have an average supply of 1 trillion rupees per month and we expect this trend to sustain, with fundraising rising to another record this year," said Pranav Haldea, managing director at Prime Database Group. Firms raised 4.07 trillion rupees via bonds in April–July, the highest ever for the first four months of a financial year, according to Prime Database, highlighting the growing appeal of the corporate bond market over traditional bank loans amid favourable rate conditions. Yields on corporate bonds have dropped sharply following the Reserve Bank of India's 100-basis-point rate cut between February and June, coupled with large liquidity infusions, making bond markets more attractive than bank lending, a trend that is expected to persist. "Rate transmission in the bond market is faster as it discounts rate expectations, unlike traditional bank lending," said Vinay Pai, head of fixed income at investment banking firm Equirus Capital. According to the State Bank of India, the incremental share of bank credit in overall resource mobilisation fell to 31.3% in the last financial year and to 22% in April–June, down from 44.6% in FY24. Dovish central bank actions have ensured ample liquidity, with investors chasing supply. "There is ample demand from mutual funds, as we are in a lower-for-longer scenario. Demand from mutual funds will continue in the up-to-five-year space, and some funds may also start looking at AA and AA-rated papers to play for spread compression," said Anurag Mittal, head of fixed income at UTI Asset Management.
Business Standard
26-07-2025
- Business
- Business Standard
IRB Infrastructure Trust reports consolidated net loss of Rs 42.76 crore in the June 2025 quarter
Sales rise 48.63% to Rs 1859.10 crore Net Loss of IRB Infrastructure Trust reported to Rs 42.76 crore in the quarter ended June 2025 as against net loss of Rs 114.93 crore during the previous quarter ended June 2024. Sales rose 48.63% to Rs 1859.10 crore in the quarter ended June 2025 as against Rs 1250.83 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 1859.101250.83 49 OPM % 42.4242.43 - PBDT 119.3214.43 727 PBT -22.76-116.08 80 NP -42.76-114.93 63
Reuters
24-07-2025
- Business
- Reuters
Three Indian infra investment trusts eye $500 million debt in coming weeks, sources say
MUMBAI, July 24 (Reuters) - Three Indian infrastructure investment trusts, including the National Highways Infrastructure Trust, are planning to raise up to 43 billion rupees ($499 million) through corporate bonds in the coming weeks, three sources familiar with the matter said. NHIT is in talks with merchant bankers and investors to raise around 15 billion rupees through three-year bonds, the sources, who did not want to be named because the discussions are private, said. Cube Highways Trust ( opens new tab is likely to tap the market for about 10 billion rupees in debt, with maturities ranging between three and five years. Meanwhile, IRB Infrastructure Trust ( opens new tab is preparing for its debut bond issuance, targeting roughly 18 billion rupees through a dual-tranche offering with five and 10-year tenors. None of the infrastructure investment trusts, or InvITs, responded to Reuters emails seeking comment. InvITs typically raise capital through a combination of units and bonds. Bond issuances have gained traction in recent months amid falling yields. According to Prime Database, InvITs and real estate investment trusts (REITs) together raised more than 178 billion rupees in the January–June period. All three InvITs are in discussions with investors, including the International Finance Corporation, which has previously invested in debt issued by several InvITs, including Cube Highways, according to a termsheet from an earlier offering. NHIT last tapped the bond market in January, while Cube Highways raised funds through bonds in April. Insurance firms and pension funds participated in NHIT's previous bond offering, and the sources said they expect mutual funds to show interest this time, given that the tenor aligns with their investment horizon. ($1 = 86.3825 Indian rupees)
