RBI stimulus working as rare issuers revive rupee bond market

Mumbai

INDIA'S rare issuers are returning to the bond market as the central bank's plan to boost cash in the financial system drives down borrowing costs.

Tata Realty & Infrastructure, part of the nation's biggest conglomerate, made its rupee bond debut last month to raise 6 billion rupees (S$123 million), while Great Eastern Shipping in May tapped the market after a gap of five years. Billionaire Mukesh Ambani's Reliance Jio Infocomm secured the lowest-ever coupon for a three-year bond sale.