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Knowledge Realty Trust has received bids worth INR 10 billion for bonds maturing in just over three years, offering a 7.5378% coupon. The bonds hold AAA ratings from Crisil and ICRA, and the issue includes a base allocation plus a greenshoe option. Other notable corporate bond deals included Cholamandalam Investment and Finance Company's 19-month AA+ rated bonds and Tata Capital's reissued AAA-rated 7.95% bonds. The trend indicates sustained investor interest in mid-term, highly rated corporate debt, reflecting confidence in stable returns and active participation in India's debt market.
India's Knowledge Realty Trust has accepted bids totaling INR 10 billion (around USD 110.47 million) for bonds maturing in slightly over three years, according to three bankers familiar with the matter. The company had set a coupon rate of 7.5378% and had invited commitment bids for the issue earlier last week. The firm did not immediately respond to requests for comment. Advertisement
The issue attracted strong interest in the market, reflecting steady demand for AAA-rated corporate bonds. Knowledge Realty Trust's bonds carry a AAA rating from Crisil and ICRA. The size of the issue includes both the base allocation and the greenshoe option.
On the same day, other corporate bond deals were reported, including Cholamandalam Investment and Finance Company's 19-month bonds with a yield of 7.77%, amounting to a total issue of INR 15 billion (base plus greenshoe), rated AA+ by ICRA. Additionally, Tata Capital reissued its 7.95% bonds maturing in 2028, with a combined issue size of INR 15 billion, carrying a AAA rating from Crisil and ICRA.
The recent activity highlights a continued trend of strong corporate bond demand in India, especially for highly rated issuers. Investors have shown interest in mid-term bonds offering stable returns, supporting liquidity in the debt market.
Source Reuters
5th Jun, 2025
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