ICICI and Canara Bank may raise Rs 90 billion via infrastructure bonds

ICICI Bank and Canara Bank are likely to foray into the debt market in 2023-24 and are in talks with investors to sell 10-year infrastructure bonds worth Rs 90 billion. ICICI bank is looking to raise up to Rs 40 billion (about $481 million). The issuance is likely to have a base size of Rs 10 billion and a greenshoe option of Rs 30 billion. Similarly, Canara Bank will carry out an issuance with a base size of Rs 10 billion and a greenshoe option of Rs 40 billion.