ICICI Bank may raise crores via infra bonds soon
ECONOMY & POLICY

ICICI Bank may raise crores via infra bonds soon

ICICI Bank of India is currently engaged in discussions with potential investors regarding the issuance of longer-tenor infrastructure bonds, marking its initial venture into the debt market for the year, according to three bankers familiar with the matter. The private sector bank is reportedly preparing to enter the market within the next two weeks, with the intention of raising up to 40 billion rupees (approximately $481 million) through bonds that will mature over a period of seven to ten years.

As of the time of reporting, ICICI Bank has not responded to Reuters' request for comment and has yet to officially announce the bond sale. One of the bankers involved in the process stated, "The bank is finalizing the issue details and will enter the market after gauging the response to State Bank of India's infrastructure bonds this week."

State Bank of India (SBI), the nation's largest lender, has outlined plans to generate funds of up to 100 billion rupees through infrastructure bonds with a maturity period of 15 years. SBI has called for bids scheduled for Friday.

In summary, ICICI Bank is in discussions with investors for the issuance of longer-tenor infrastructure bonds and is expected to enter the market in the coming weeks, aiming to raise substantial funds. This move follows the State Bank of India's own infrastructure bond offering, highlighting the continued activity in India's debt market.

ICICI Bank of India is currently engaged in discussions with potential investors regarding the issuance of longer-tenor infrastructure bonds, marking its initial venture into the debt market for the year, according to three bankers familiar with the matter. The private sector bank is reportedly preparing to enter the market within the next two weeks, with the intention of raising up to 40 billion rupees (approximately $481 million) through bonds that will mature over a period of seven to ten years. As of the time of reporting, ICICI Bank has not responded to Reuters' request for comment and has yet to officially announce the bond sale. One of the bankers involved in the process stated, The bank is finalizing the issue details and will enter the market after gauging the response to State Bank of India's infrastructure bonds this week. State Bank of India (SBI), the nation's largest lender, has outlined plans to generate funds of up to 100 billion rupees through infrastructure bonds with a maturity period of 15 years. SBI has called for bids scheduled for Friday. In summary, ICICI Bank is in discussions with investors for the issuance of longer-tenor infrastructure bonds and is expected to enter the market in the coming weeks, aiming to raise substantial funds. This move follows the State Bank of India's own infrastructure bond offering, highlighting the continued activity in India's debt market.

Next Story
Building Material

JSW Steel and POSCO to Invest ?650 Billion in Odisha Steel Plant

India's JSW Steel and South Korea's POSCO have announced plans to jointly invest ?650 billion (~$7.73 billion) in constructing a steel plant in Odisha. The plant, which will have an initial capacity of 5 million tons of steel annually, is part of their strategy to tap into India's rapidly growing steel market, fueled by its fast-paced economic expansion. The cooperation agreement was signed last week, although specific financial details were not disclosed. The initial investment for the project will be ?200 billion, with the plant expected to be operational by next year. Over the following thr..

Next Story
Infrastructure Urban

India's EV Charging Market Set to Reach $3.7 Billion by 2030

India’s electric vehicle (EV) charging market is projected to grow to $3.7 billion by 2030, driven by increasing EV adoption and the need for efficient charging solutions. The sector is expected to expand at a compound annual growth rate (CAGR) of 16%, supported by environmental concerns and fluctuating fuel prices. Globally, the EV charging infrastructure market is also experiencing significant growth, with revenues forecast to surge from $25.9 billion in 2023 to $164 billion by 2030, reflecting a CAGR of approximately 12%. "Fast-charging technologies and battery-swapping solutions are esse..

Next Story
Resources

IIA Kerala to host SRC 2024 on November 29-30

The Southern Regional Conference (SRC) 2024, hosted by The Indian Institute of Architects (IIA) Kerala Chapter and organised by IIA Kannur Centre, will take place on November 29-30, 2024 at Vythiri Village Resort in Wayanad. This prestigious conference will bring together visionary architects from across the country  and beyond to foster a rich dialogue and exchange of innovative ideas in the field of architecture.The Southern Regional Conference serves as a premier platform for professional development, knowledge sharing, and networking within the architectural community. This year’s t..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000