|
Getting your Trinity Audio player ready...
|
It is built upon the activity in June, where improved participants’ borrowing ability, softening of crude oil prices, and changes in liquidity and interest rate from the Reserve Bank of India (RBI) were the factors most crucial for the rebound in the confidence of both issuers and investors.
Start investing with just ₹10K & grow your wealth with fixed return opportunities.
Invest Now
Who Raised What: Friday’s Key Bond Issuances
In terms of size, the large public sector lenders had a lead. Many of the large NBFCs also accessed the market through fresh issuances of bonds and/or reissues. Here’s a snapshot:
| Issuer | Amount Raised | Yield / Coupon | Maturity |
| NABARD | ₹8,000 crore | 7.16% (cutoff yield) | — |
| IIFCL | ₹1,848 crore | 7.25% (cutoff yield) | — |
| Bajaj Finance | ₹4,000 crore | 7.70% coupon | September 20, 2029 |
| Bajaj Finance | ₹1,305 crore | 7.79% coupon | July 4, 2036 |
| Aditya Birla Capital | ₹556.8 crore | 8.2484% YTM (reissuance) | April 30, 2036 |
| Kotak Mahindra Prime | ₹250 crore | 7.6581% YTM (reissuance) | August 24, 2029 |
Source: Business Standard
Highlights:
- NABARD was the top issuer for the day and raised ₹8,000 crores
- Bajaj Finance was the top issuer among the NBFCs and raised a total of ₹5,305 crores through two separate bond issues
- Aditya Birla Capital and Kotak Mahindra Prime raised funds through reissues of their existing bond series at a premium to the face value of the bonds.
- The Global Bond Shockwave: Why Indian Investors Shouldn’t Ignore 20-Year High US Yields
- Indian Companies Raise ₹15,960 Crore Via Bond Issuances as Debt Market Momentum Builds
- AI Conquered the Stock Market: Why the Bond Market Is Next
NTPC Green Energy to Tap Market Next Week
NTPC Green Energy is planning new bond issuances to add to its existing offerings on Tuesday. The new plans involve the issuance of 10-year bonds with a target of raising ₹2,500 Crore with a greenshoe option of an additional ₹2,000 Crore. The ratings for the proposed issue are expected to remain AAA/Stable, which reflects CRISIL’s and India Ratings’ strong assessment of the proposed bonds.
What’s Driving the Bond Market Rally
Market participants are seeing the strong market momentum continuing as a combination of macro and policy provisions.
- Liquidity and rate measures by RBI, reducing the cost of borrowing across the curve
- Reduced crude oil prices contribute to reducing inflation and improving the appetite for investment
- Improved confidence by issuers, as reflected in NABARD’s offer acceptance for its entire ₹ 8,000 crore issue at ~7.16%. This is very encouraging, considering earlier in the year, sovereign-backed paper also struggled to find investors unless an attractive yield was offered.
“The positive momentum witnessed in June has clearly carried into July. Today’s successful bond issuances by marquee names such as Nabard, IIFCL, and Bajaj Finance are the clearest real-economy confirmation that the RBI package and the crude correction have done what they were designed to do: Restore issuer confidence and investor risk appetite at the same time,” said Venkatakrishnan Srinivasan, founder and managing partner of Rockfort Fincap. “That is a meaningfully healthier equilibrium than the one the market was in as recently as March, when even AAA sovereign-backed paper couldn’t clear without conceding on yield. The rally is well-founded.”
Outlook for India’s Debt Market
Going forward, it appears that the possible addition of Indian bonds to the Bloomberg Global Aggregate Bond Index will further bolster the domestic bond market. The market participants did mention some variables that may impact this potential:
- Path of domestic inflation
- Shape of the ongoing monsoon
- Global politics
As for now, to many, the corporate bond market appears to be in one of the strongest phases in recent months, with renewed confidence on both sides (borrowers and investors).
Note: All figures are as reported by these outlets as of July 3–5, 2026. Readers can cross-check live bond market data and RBI liquidity measures on the RBI’s official website and NSE’s debt market segment for further verification.
Disclaimer
Fixed returns do not constitute guaranteed or assured returns. Investments in corporate debt securities and municipal debt securities/securitized debt instruments are subject to credit risks, market risks, and default risks, including delay and/or default in payment. Read all the offer-related documents carefully. This blog/article should not be construed as financial advice or as an offer or recommendation to buy or sell any security or any products/services of/on GoldenPi or any product/services of its third-party client(s). For a detailed calculation of YTM, visit our website. T&C’s Apply.
