Two of the Tata Group’s infrastructure units are set to return to the corporate bond market in the coming days, after more than 15 months, two merchant bankers said on Tuesday.
Indian corporate bond yields have eased after the Reserve Bank of India maintained key policy rates unchanged last week, providing some relief to the market.
Tata Steel is set to raise ₹3,000 crore ($313.23 million) through a sale of five-year bonds, while Tata Projects, a real estate firm, could raise ₹500 crore to to ₹1,000 crore through a combination of three-year and five-year papers.
“Both the companies have alerted merchant bankers, and are waiting for the rates to ease further before tapping the market,” one of the bankers said.
The bankers asked not to be named as they are not authorised to speak to the media. Tata Projects did not reply to an email seeking comment, while Tata Steel said, “We do not have any imminent plans for any issuances of bonds.”
