Retail NCD issuance may touch record high

Retail bond issuance this year could reach record high as non-bank finance companies (NBFCs) find it difficult to raise resources from their traditional funder banks. According to Icra Ratings, the total retail non-convertible debenture (NCD) issuance this year could surpass their previous highs of Rs 423.83 billion witnessed in 2013-14. That year, public sector units issued tax-free bonds worth Rs 330 billion.

Since then, there has been no tax-free bond issuance. This year, issuance of tax-free bonds has not been announced by the government. Still, the issuance in the first quarter …

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