For the wealthy, post-tax returns of debt funds would work out better
Capital gains tax is no longer exempt even for investors coming via Mauritius, hence FPIs are now classifying it as interest income to save on taxes.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud. The case stems from a complaint by the Life Insurance Corporation of India (LIC) regarding investments in RCAP's non-convertible debentures, alleging criminal conspiracy, misrepresentation, and fraudulent diversion of funds causing significant loss to LIC.
The CBI has registered a case against Reliance Capital Limited (RCAP), its former chairman Anil Ambani, and others for an alleged Rs 2,684.57-crore fraud involving investments made by the Life Insurance Corporation of India (LIC). Anil Ambani has denied any wrongdoing. The LIC alleges criminal conspiracy, misrepresentation, and fraudulent diversion of funds.
The CBI has filed a charge sheet in a Rs 3,750-crore cheating case against Reliance Communications Ltd. (RCom), former executives of the Reliance ADA Group, and a former Chief Investment Officer of Life Insurance Corporation of India (LIC). The case involves LIC subscribing to NCDs worth Rs 1,500 crore from RCom in 2012 based on alleged misrepresentations, with funds subsequently diverted to ADA group companies, causing wrongful loss to LIC.
The CBI has registered a new case against Anil Ambani and Reliance Communications Ltd for allegedly causing a loss of Rs 3,750 crore to the Life Insurance Corporation (LIC) of India.
Adani Airport Holdings (AAHL) has announced it will raise 9,825 crore through a primary equity infusion from a consortium of global investors, including Alpha Wave Global, Premji Invest, Temasek, and funds managed by BlackRock, who will collectively acquire a 5.54 per cent stake.
Reliance Industries Ltd (RIL) has successfully raised a total of Rs 25,000 crore through domestic bond issues in September, including a recent Rs 13,000 crore 10-year bond at 7.90 per cent, as it prioritises funding certainty amidst expectations of a possible RBI rate hike and rising borrowing costs.
Yield-generating instruments like Infrastructure Investment Trusts (Invits), Real Estate Investment Trusts (Reits), and Non-Convertible Debentures (NCDs) are witnessing a surge in investor interest, contrasting with a notable slowdown in the equity primary market, which saw only one IPO in April.
Godrej Properties Limited (GPL) reported its highest-ever quarterly profit of 649.5 crore in Q4 FY26, a 70.13 per cent year-on-year increase, driven by record revenues and bookings. The company aims for over 39,000 crore in residential bookings for FY27 and plans to raise up to 3,000 crore through debt securities.
The country's largest life insurer has been inundated with applications from companies, including heavyweights such as Reliance, as the deepening credit crisis forces India Inc to look for new sources of funds. Many companies are issuing NCDs largely to meet their working capital requirements as well as long-term capital expenditure plans.
Falcon Tyres Ltd fixed February 21 record date to allot one 10 per cent unsecured redeemable non-convertible debenture of Rs 15 for every share held.
The Delhi High Court has declined to grant interim relief to Gurugram-based Experion Developers Private Limited, who sought to quash an FIR registered against them by the Economic Offences Wing of Delhi Police on charges of fraud.
Engineering and construction conglomerate Larsen & Toubro (L&T) on Monday announced the listing of the country's first environmental, social and governance bonds on the NSE, raising Rs 500 crore through debentures. In a filing to BSE, the company said it "has listed India's first ESG bonds on the National Stock Exchange (NSE), setting a precedent for a greener and more sustainable financial future in India".
Earlier, such entities were only permitted to invest their rupee surplus balance in accounts in central government securities, including treasury bills. "It has now been decided to also permit investment of these balances in non-convertible debentures/bonds and commercial papers issued by an Indian company," the RBI said.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
India's third-largest telecom operator Vodafone Idea (Vi) has secured a 10-year breather on adjusted gross revenue (AGR) payments from the Department of Telecommunications (DoT). This is expected to ease pressure on its balance sheet and enable the company to raise bank debt for capital expenditure.
Capital markets regulator Sebi on Thursday barred JM Financial Ltd from taking new mandate for acting as a lead manager for any public issue of debt securities, for indulging in unfair trade practices. However, in case of existing mandates, JM Financial can continue to act as a lead manager for public issue of debt securities for a period of 60 days, Sebi said in its interim order.
How investing in non-convertible debentures gives better returns than investing in fixed deposits in these volatile times.
Several companies across sectors like finance, healthcare, wellness, retail technology, and asset management are bracing up to hit the D-street. With an unprecedented 1.7 lakh crore raised in 2025, the momentum is likely to sustain in 2026.
Mortgage lender HDFC Ltd on Monday said its board has approved raising funds through non-convertible debentures (NCDs) in tranches aggregating to Rs 57,000 crore. The board has cleared issuance of unsecured, redeemable, non-convertible debentures under a Shelf Placement Memorandum, aggregating Rs 57,000 crore, in various tranches, on a private placement basis, HDFC said in a regulatory filing. This is in accordance with the approval granted by the shareholders of the HDFC at the 45th annual general meeting held on June 30, 2022, it said.
Those willing to take a higher risk for higher returns can look at AAA-rated non-convertible debentures from reputed issuers.
The dispute between Aakash Educational Services Ltd (AESL) and edtech firm Byju's has escalated, with Aakash filing a sharply worded petition before the National Company Law Tribunal (NCLT) in Bengaluru, alleging conflict of interest and professional misconduct by global consulting firm Ernst & Young (EY), according to court filings
State-owned Life Insurance Corporation (LIC) on Thursday entirely subscribed to the Rs 5,000 crore bond issue of Adani Ports and Special Economic Zone (APSEZ) at a coupon rate of 7.75 per cent, said sources privy to the development.
Mirza Tanners Ltd issued 1000 7.5% non convertible debentures of Rs 100,000 each aggregating to Rs 100 million to Punjab National Bank on a private placement basis.
Anil Ambani's Reliance Infrastructure Ltd has slashed its standalone debt by 87 per cent to Rs 475 crore after it cleared outstanding dues of Life Insurance Corporation of India, ICICI Bank and other lenders, the firm said on Wednesday. In stock exchange filings and press statements, Reliance Infrastructure said its standalone external debt has reduced from Rs 3,831 crore to Rs 475 crore. "Consequently, the net worth of the company will stand at Rs 9,041 crore."
IKF Finance Ltd said Credit Analysis and Research Ltd decided to retain 'CARE BBB' rating for its Rs 20 million non convertible debentures programme.
Mirza Tanners Ltd redeemed non-convertible debentures issued to Jammu & Kashmir Bank Ltd totaling Rs 100 million before maturity period to reduce costly funds.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
Coffee Day Enterprises Ltd has reported a total default of Rs 465.66 crore on payments of interest and repayment of principal amount on loans from banks, financial institutions and Unlisted Debt Securities as NCDs and NCRPS, for the quarter ended September 30, 2022. Coffee Day Enterprises Ltd (CDEL) which is paring its debts through asset resolution, has a total debt of Rs 490.66 crore, including short-term and long-term debt. "The delay in debt servicing is due to liquidity crisis," said Coffee Day Enterprises Ltd (CDEL) in a regulatory update.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
Debt-ridden telecom operator Vodafone Idea on Thursday said its board has approved raising of up to Rs 14,500 crore, including Rs 4,500 crore from promoter entities. An amount of Rs 10,000 crore would be raised by way of sale of equity or through debt instruments such as ADR, GDR and FCCBs. In a regulatory filing, the company said the board has cleared issuance of up to 338.3 crore equity shares of face value of Rs 10 each at an issue price of Rs 13.30 per equity share for an aggregate consideration of up to Rs 4,500 crore.
The regulator has extended the deadline by 45 days till June 30 for submitting half-yearly financial results for NCDs, NCRPS and CPs, while it has given a time period of another 30 days till June 30, for filing annual earnings.
Cholamandalam Investments approves issue of non-convertible debentures.
Escorts Ltd fixed March 19 record date to pay interest on 15 per cent secured redeemable non-convertible debentures of Rs 35 each due on April 1.
Funds raised were to support financing activities and meet working capital needs.
The government must guarantee the entire loan and the interest rate, so that there is no additional provisioning requirement.
Company says confident of raising funds; to raise Rs 688 crore by February-end.
The issue has a AAA rating from India Ratings, the domestic services of Fitch, reflecting the unconditional guarantee extended by the government.
