India New Issue-Sundaram Finance accepts bids for bond issue, bankers say

Sundaram Finance

28/05/2025 11:23

MUMBAI, May 28 (Reuters) - India's Sundaram Finance SNFN.NS has accepted bids worth 10 billion rupees ($117.2 million) for bonds maturing in two years, three merchant bankers said on Wednesday.

The company will pay an annual coupon of 6.99% 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 May 28:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Sundaram Finance
2 years
6.99
10
May 28
AAA (Crisil)
Can Fin Homes
3 years
7.24
9.80
May 28
AAA (Icra)
NABARD Sept 2028 reissue
3 years and 4 months
7.59 (yield)
42.25
May 28
AAA (Crisil, India rating)
IRFC
3 years
6.47
30
May 28
AAA (Crisil, Care, Icra)
IRFC
5 years
6.58
30
May 28
AAA (Crisil, Care, Icra)
Cholamandalam Investment
2 years
7.38
20
May 27
AA+ (Icra, India Ratings)
Bajaj Finance June 2027 reissue
2 year and 1 month
To be decided
5+25
May 29
AAA (Crisil)
Tata Capital Feb 2028 reissue
2 year and 8 months
To be decided
1+3.50
May 29
AAA (Icra, Crisil)

 *Size includes base plus greenshoe for some issues

($1 = 85.3410 Indian rupees)

 (Reporting by Dharamraj Dhutia; Editing by Varun H K)

 ((Dharamraj.dhutia@tr.com))