Piramal Capital likely to float bond issue in crores
Piramal Capital & Housing Finance is likely to test investor appetite with a Rs 1,000-1,500 crore bond sale, expected in the next few weeks. The company has reached out to select market participants for the bonds with three-five-year maturity, said three market sources with direct knowledge of t
Piramal Capital & Housing Finance is likely to test investor appetite with a Rs 1,000-1,500 crore bond sale, expected in the next few weeks. The company has reached out to select market participants for the bonds with three-five-year maturity, said three market sources with direct knowledge of the matter.
Piramal denied it is raising cash by selling bonds. “Even though we keep raising funds from time-to-time, as on date, we do not have any such issuance planned,” said the group spokesperson.
For the past few months, the company has been looking to raise money as a crisis of capital has weighed on non-banking finance companies since September last year. Investors broadly tend to shy away from those non-bank lenders, which extended credit to builders.