After IL&FS crisis, suspicion running deep in bond dealers' minds

Barring a few, not many are willing to invest in this liquidity-deficit market

Public sector North Eastern Electric Power Corp Ltd (NEEPCO) on Monday called for bids to raise Rs 3 billion in seven-year bonds through the electronic bidding platform. It received bids worth Rs 135 million, asking for a coupon of 9.25 per cent.  

Last week, government-owned Rural Electrification Corp (REC) wanted to raise three-year 13-day bonds worth Rs 5 billion with a greenshoe option of another Rs 20 billion. It received bids worth Rs 5.8 billion at 9 per cent.

None of the issues took place. Sensing this, ONGC Petro Additions Ltd (OPAL) scrapped its plan to raise Rs 10