Companies, banks to raise up to Rs 3,200 cr via bonds today

Mumbai, Aug 25 (IANS) Companies and banks are ready to raise Rs 3,220 crore through bonds maturing in various maturities on Thursday, market participants said.

As per data, Canara Bank will raise Rs 2,000 crore, which includes Rs 1,000 crore via Basel-III Tier-II bonds, Kotak Mahindra prime Ltd will raise Rs 300 crore and Rs 175 crore via 35-month-25-day and 47-month-25-day, respectively.

While, Tata Capital Housing Finance Ltd will raise Rs 245 crore via 118-month bonds, and Sundaram Finance Ltd is to raise Rs 500 crore via 36-month bonds.

All the bonds are AAA rated with stable outlook by ICRA, India Ratings and CRISIL.

The bidding for the bonds will take place on bidding platform of BSE and the National Stock Exchange.