Foreigners flock to snap up 18.75% yield on Shapoorji bond
Financial Express Mumbai|July 01, 2023
BONDS ISSUED BY Indian companies saw their biggest foreign inflow in five years as the nation's largest ever low-grade local currency debt sale drew a slew of overseas investors attracted by the high yield on offer.
SAIKAT DAS & SUBHADIP SIRCAR
Foreigners flock to snap up 18.75% yield on Shapoorji bond

Goswami Infratech, a Shapoorji Pallonji Group company controlled by tycoon Shapoor Mistry, raised ₹14,300 crore ($1.7 billion) by selling zero-coupon bonds via private placement on Wednesday, Bloomberg News reported. The yield on the offering was at 18.75%.

The overseas interest in the high-yield offering saw foreign funds buy ₹4,710 crore worth of Indian local company debt on Wednesday, the biggest inflow since 2018.

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