Debt market – The News Desk

Indian companies, both listed and unlisted, will soon be able to list their shares directly on the exchanges at the International Financial Services Centre (IFSC) in Gujarat, Finance Minister Nirmala Sitharaman said on Friday. The move will enable “start-ups and companies of like nature to access the global market through GIFT IFSC”, Sitharaman said. “This will also facilitate access to global capital and result in better valuation for Indian companies,” she added. The finance minister was speaking at the launch of the Corporate Debt Market Development Fund (CDMDF) and AMC Repo Clearing Limited (ARCL) in Mumbai. The announcement came as a follow-up to an earlier decision by the government to allow direct listing of Indian companies in foreign jurisdict...

The country’s largest lender, State Bank of India (SBI), is looking to raise up to Rs 10,000 crore capital via additional tier I bonds (AT1) in the coming week. However, the recent spike in yields in the last two weeks has made it weigh on the costs of locking in at higher yields. Debt market sources said the AT1 bonds raise, tentatively scheduled for July 13, is for twin purposes--supporting business growth and replacing instruments (bonds) that are maturing. The bank would decide on actual bond issuance based on yield level in the market, which hardened in the last two weeks. The yield on the benchmark 10-year Government of India bonds closed at 7.15-16 per cent level at end of week (July 07) from 7.07 per cent fortnight ago (June 23), according to data from Clearin...

Tag: Debt market

Indian companies to soon directly list on IFSC bourses: FM Sitharaman

SBI seeks to raise Rs 10,000 cr in tier-I bonds, wary about spike in yields