Nabard has withdrawn a planned three-year bond sale scheduled for Friday, citing weak investor demand that would have forced higher borrowing costs. The lender targeted ₹7,000 crore, including a ₹5,000 crore greenshoe option, but received bids worth only about ₹3,030 crore. Dealers estimate yields could have been about 7.79% for the base amount and as high as 8.04% if all bids were accepted. Since few expected Nabard to accept 8%, bidding stopped around ₹3,000 crore.
Primary market activity remains subdued with only two offerings expected next week: a Rs 48 crore SME IPO by Safety Controls and Devices and PropShare Celestia REIT valued at Rs 245 crore. Rising volatility, weak post-listing performance, and cautious investor sentiment are pushing companies to delay launches or reduce valuations, even as the broader pipeline continues.
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