From RIL to Air India: India Inc wades into rupee bond market as costs drop

Air India last week sought fee bids from bankers as it looks to borrow as much as Rs 70 billion by March 31

Rupee bond sales are gathering pace once again as some of India’s bellwether companies consider tapping the market, after a lull in February.

A flurry of fundraising in the beginning of the year cooled last month as issuers waited for cues on rates from the federal budget and monetary policy review. Sales are now back on track as large firms wade in to take advantage of falling financing costs.

Robust Pipeline

That’s adding to optimism on issuance. Sales are still up 17 percent for the year vs the same period in 2018, due to the strong start in January and