SP Group to raise $125 million via tap issue, Rs 3,250 crore in rupee bonds
In a significant financial move, Shapoorji Pallonji Group plans to generate $125 million through a tap issue of current dollar bonds, targeting an impressive ₹3,250 crore via unrated rupee-denominated bonds for refinancing purposes. This capital-raising endeavor is likely to finalize by Thursday, with payments assigned for October 1. The influx of interest has led to oversubscription in recent bond offerings, with yield rates ranging from 14% to 18.95%.
Bond yields in India are anticipated to increase in the latter half of this fiscal year. This rise is primarily due to higher government borrowing and ongoing inflationary pressures. Analysts expect demand for government securities to fall significantly short of supply. The trajectory of bond yields will also be heavily influenced by oil prices, particularly if crude stays high.
Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price
Gold paradox: Why India, a refining giant, is not a big bullion exporter
A refinery is not a laptop: Why America's diesel problem can't be switched off
How Irdai’s big reset can change insurance landscape, customer choice
Everyone asks who will fund AI. Few ask who pays if it burns
Can Fly91’s flightpath for India’s smallest airline defy the doomy past?
Smugglonomics: Geckos, dry dates, human hair, what makes something worth smuggling?
