Tycoon Sunil Mittal’s Uganda IPO flops as investors prefer bonds

Tycoon Sunil Mittal’s Uganda IPO flops as investors prefer bonds

Indian billionaire Sunil Mittal’s Airtel Uganda Ltd. failed to sell about half of the shares on offer in its initial public offering as investors stayed away, preferring high-yield government bonds. Airtel said it managed to raise 211.4 billion shillings ($56 million) after selling 54.5% of the 8 billion shares on offer. Retail investors bought just … Read more

Centre’s market borrowings via bonds cross Rs 100 lakh-crore mark

Centre’s market borrowings via bonds cross Rs 100 lakh-crore mark

Mumbai: The Centre’s outstanding market borrowing through bonds has climbed past the ₹100-lakh-crore mark, largely as the Covid crisis triggered a surge in debt issuances as New Delhi sought to pump-prime a stalled economy through state spending. The latest Reserve Bank of India (RBI) data showed that the outstanding stock of central government bonds, excluding … Read more

Aligning market realities with policy goals

Aligning market realities with policy goals

Mumbai: When Reserve Bank of India (RBI) Governor Shaktikanta Das began Friday by saying that the monetary policy review was not just a ‘status quo’ one but would ‘reveal and give an idea of our approach not only to monetary policy but also to various aspects of monetary policy,’ few knew what was in store. … Read more

How concentrated yield management is impacting govt bonds

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Traders are seen buying the benchmark papers in anticipation that those will be accepted in RBI’s bond purchase programmes at a slightly lower yield. Synopsis Last week, the benchmark bond yield dropped below the crucial 6 percent mark to 5.96 percent after the central bank announced a Government Securities Acquisition Programme (GSAP) for Rs 35,000 … Read more

RBI finds no takers for Rs 25,000 cr G-secs; yields rise 11 bps

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MUMBAI: The Reserve Bank of India (RBI) could not find takers for about Rs 25,000 crore of government bonds at reasonable rates as bidders demanded higher yields, pointing to the challenges North Block’s principal money manager faces in preventing a spiral in debt costs. The benchmark yield surged 11 basis points Thursday, mimicking the recent … Read more