Financial firms raise Rs 135 billion via bonds

The Indian bond market has witnessed significant fundraising activity with Bank of Baroda, National Bank for Agriculture and Rural Development (NABARD) and the Indian Renewable Energy Development Agency (IREDA) raising Rs 135 billion via bond issuances. The issuances of NABARD and Bank of Baroda were fully subscribed while IREDA raised only Rs 10 billion against the total issue size of Rs 25 billion. Additionally, HDFC Bank has raised Rs 74.25 billion via NCDs for funding infrastructure and affordable housing projects. The bank issued and allotted 7.71 per cent unsecured, redeemable, long-term, fully paid-up, non-convertible bonds in the form of debentures on a private placement basis.