Piramal Finance raises $150 million from international investors

Jairam Sridharan, , Managing Director, Piramal Capital & Housing Finance Ltd.

Piramal Capital & Housing Finance Ltd. (Piramal Finance), said it had raised $150 million from international capital markets. The bonds will be issued at a yield of 7.078%.

For this $150 million tap issue, the final orderbook received was over $520 million depicting 3.5 times oversubscription, with the order book peaking over $600 million ahead of the release of final pricing guidance, the company said in a statement.

“A total of 40 investors participated in the final issuance, with 92% of the funds raised from Asia and 8% from EMEA. The deal attracted high-quality demand, with 95% of funds raised from asset managers, 5% from others including banks and private banks,” it said.

Jairam Sridharan, Managing Director, Piramal Capital & Housing Finance Ltd. said, “India offers an exciting investment landscape, and we are delighted to provide global investors the opportunity to participate in the nation’s growth journey. At the same time, we remain focused on promoting sustainable development and enhancing credit access for a vast number of underserved citizens across the country.”