State firms raise $880M through bonds as yields soften

Three major Indian state-owned enterprises raised nearly $880 million in bond issuances this week as falling yields made borrowing cheaper. NTPC, NHAI, and IRFC led the offerings, securing rates between 7.1% – 7.3%. Analysts said easing inflation expectations and robust domestic demand spurred the surge. The deals mark the heaviest weekly state-sector borrowing since February 2024, reflecting strong investor appetite for high-grade corporate debt.