India New Issue-Tata Capital accepts bids for floating-rate bonds, bankers say

Tata Capital

21/05/2026 12:09

MUMBAI, May 21 (Reuters) - India's Tata Capital TATC.NS accepted bids worth 29.50 billion rupees ($306.65 million) in a sale of bonds maturing in two years and nine months, three bankers said on Thursday.

The bonds will carry an initial coupon of 7.42%, with subsequent resets linked to the three-month treasury bill yield plus a spread of 210 basis points, they said.

A. K. Capital Services, ICICI Securities Primary Dealership, and ICICI Bank are the arrangers on the deal, the bankers said.

The company had invited commitment bids for the issue on Wednesday.

It did not respond to a Reuters email seeking comment.

 Here is the list of deals reported so far on May 19:

Issuer
Tenure
Coupon (in %)
Issue size (in bln rupees)*
Bidding date
Rating
Tata Capital
2 years and 9 months
7.42% (initial)
29.50
May 20
AAA(Crisil, Icra)
ICICI Home Finance Company
3 years
7.25 (initial, reset quarterly)
5.5
May 20
AAA(Icra)

*Size includes base plus greenshoe for some issues

($1 = 96.2000 Indian rupees)

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

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