Indian corporates collectively raised over Rs 17,500 crore from the domestic debt capital market through bond issuances on Tuesday. The issuances were led by Bharti Telecom’s Rs 10,500 crore fundraise in two tranches, the largest by an Indian company in the domestic market so far in FY26. Other marquee issuers included Bajaj Finance, Aditya Birla Capital, and Poonawalla Fincorp. Bharti Telecom, the holding company of Bharti Airtel, raised Rs 5,250 crore at a coupon of 7.45 per cent through bonds maturing in December 2028. It also raised Rs 5,250 crore at 7.35 per cent through bonds maturing in October 2027. Of the Rs 10,500 crore raised by the company, Rs 3,150 crore was already committed by anchor investors. The remaining Rs 7,350 crore attracted bids worth Rs 18,015 crore from other investors. Bonds maturing in October 2027 received Rs 9,165 crore in bids, while those maturing in December 2028 attracted Rs 8,850 crore. Separately, Bajaj Finance India’s largest non-banking finance company (NBFC) raised Rs 1,875 crore through bonds at coupon rates ranging between 7.1 per cent and 7.45 per cent. It reissued two tranches of bonds worth Rs 1,375 crore and raised Rs 500 crore through fresh issuance of 10-year bonds at 7.45 per cent.
Aditya Birla Capital raised Rs 750 crore at 7.31 per cent through bonds maturing in 2028. Adar Poonawalla’s Poonawalla Fincorp raised Rs 3,000 crore in two tranches Rs 2,500 crore at 7.55 per cent through bonds maturing in March 2027, and Rs 500 crore at 7.53 per cent through bonds maturing in September 2027. National Capital Region based real estate developer Signature Global raised Rs 875 crore at 11 per cent through bonds maturing in January 2029. “Following the dovish monetary policy and several new measures announced by the RBI to support economic growth, along with surplus liquidity in the banking system, the bond market saw very strong activity today (Tuesday). On the EBP platform alone, more than Rs 19,000 crore of bonds were issued, with around Rs 17,000 crore successfully subscribed. Most of these issues were for shorter tenures of less than five years, showing a clear short-term bias,” said Venkatakrishnan Srinivasan, founder and managing partner of Rockfort Fincap LLP. After a surge in corporate bond issuances in the first quarter, activity slowed in the second quarter as borrowing costs climbed. However, the market is expecting a rebound, with easing yields expected to rekindle investor interest in the bond market.
Fund flow
Bharti Telecom
Rs 10,500 crore
Rs 5,250 crore at coupon rate of 7.45%
Rs 5,250 crore at 7.35% rate
Bajaj Finance
Rs 1,875 crore
Rs 1,375 crore reissued bonds
Rs 500 crore fresh 10-year bonds at 7.45%
Aditya Birla Capital
Rs 750 crore at 7.31%
Poonawalla Fincrop Rs 3,000 crore
Rs 2,500 crore at 7.55%
Rs 500 crore at 7.53%
Signature Global
Rs 875 at 11%