India New Issue-Sundaram Finance accepts bids for 2-year bonds, bankers say

Sundaram Finance

22/04/2025 10:00

MUMBAI, April 22 (Reuters) - India's Sundaram Finance SNFN.NS has accepted bids worth 7.5 billion rupees ($88.2 million) for bonds maturing in two years, three merchant bankers said on Tuesday.

The company will pay a coupon of 7.35% on the issue and had invited bids from bankers and investors earlier in the day, they said.

Sundaram Finance did not immediately reply to a Reuters email seeking comment.

 Here is the list of deals reported so far on April 22:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Sundaram Finance
2 years
7.35
7.5
April 22
AAA (Icra)
HDB Financial
5 years and 13 days
7.6065
1+2
April 23
AAA (Crisil, Care)
HDB Financial
4 years
7.5519
1.50+3.50
April 23
AAA (Crisil, Care)
HDB Financial
2 years and five months
7.53 (yield)
5+15
April 23
AAA (Crisil, Care)
NHB
6 years and 11 months and 8 days
To be decided
10+40
April 23
AAA (Care, India Ratings)

*Size includes base plus greenshoe for some issues

($1 = 85.0810 Indian rupees)

 (Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

 ((Khushi.malhotra@tr.com; Dharamraj.dhutia@tr.com))