In 2009, Tata Capital’s Rs 500 crore bond issue was subscribed a tad over six times; the non-banking financial company (NBFC) retained Rs 1,500 crore. “We feel such bonds will become an instrument of choice for investors and other corporates, leading to the development of a strong corporate bond market,” said Praveen P Kadle, then managing director (MD) of the firm. A decade and half later, Mint Road has made it clear that banks will have to diversify their funding sources (tap the bond market) rather than rely on bank finance. It upped the risk weights on bank exposures to
First Published: Mar 24 2024 | 11:22 PM IST