Avenue Supermarts plans 1000cr bond sale to fund expansion
Business
DMart's parent company, Avenue Supermarts, is gearing up for its largest-ever bond sale, aiming to raise up to 1,000 crore rupees.
The funds will help it open new stores and invest in growth.
This is its first time tapping the bond market since 2019.
Indian companies raised 170000cr this quarter
DMart isn't alone. India's corporate bond scene is buzzing right now.
Companies have raised 1.7 lakh crore rupees this quarter alone (that's a 25% jump from last year), thanks to cheaper borrowing costs.
Still, total bond sales for the year are actually down nearly 8% compared to last year, even as Indian lenders set new records with dollar bonds abroad.