Punjab & Sind Bank Plans Rs 3,000 Crore Infrastructure Bond Issue

05 Dec 2024 CW Team

Punjab & Sind Bank, a state-owned institution, is set to raise Rs 3,000 crore through the issuance of 10-year infrastructure bonds, targeting the domestic capital market in mid-December. The bond issue, which has a base size of Rs 5 billion and a green-shoe option of Rs 25 billion, is rated ‘AA’ by domestic rating agencies CRISIL and IndiaRatings.

This move comes after Bank of India successfully raised Rs 50 billion via similar bonds earlier this year at a coupon rate of 7.41 percent. In FY25, commercial banks’ infrastructure bond issuances are expected to surpass Rs 1 trillion, almost doubling the total raised in FY24. To date, banks have raised approximately Rs 800 billion in FY25, compared to Rs 51,081 crore in FY24. Notably, State Bank of India has already raised Rs 30,000 crore through 15-year infrastructure bonds.

Infrastructure bonds are increasingly favored by banks as they are exempt from regulatory reserve requirements such as the statutory liquidity ratio (SLR) and cash reserve ratio (CRR). Unlike deposits, which require banks to maintain a significant portion as CRR and invest in securities, funds raised through infrastructure bonds can be fully deployed for lending activities.

The demand for infrastructure bonds is growing, with banks preferring them over high-risk instruments like AT-1 bonds and Tier-2 bonds. While AT-1 bonds feature discretionary coupon payments and loss-absorption mechanisms, Tier-2 bonds are less risky with fixed maturities and mandatory coupon payments.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..