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    India New Issue-Tata Capital to issue floating-rate bonds, bankers say

    Picture of Tata Capital logoTata Capital
    19/05/2026 07:41
    MUMBAI, May 19 (Reuters) - India's Tata Capital TATC.NS plans to raise up to 40 billion rupees ($415.19 million), including a greenshoe option of 12.50 billion rupees, through sale of bonds maturing in two years and nine months, three bankers said on Tuesday.

It 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, adding that A. K. Capital Services, ICICI Securities Primary Dealership, and ICICI Bank are the arrangers on the deal.

The company has invited commitment bids for the issue on Wednesday and did not respond to a Reuters email seeking comment.

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


    IssuerTenureCoupon (in %)Issue size (in bln rupees)*Bidding dateRating
    Tata Capital2 years and 9 months7.42% (initial)27.50+12.50May 20AAA(Crisil, Icra)
    

  * Size includes base plus greenshoe for some issues

   ($1 = 96.3425 Indian rupees)

 (Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sherry Jacob-Phillips)

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

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