This will also mark the first municipal bond offering in the country in 2026-27.
Separately, the Brihanmumbai Municipal Corporation (BMC) is in advanced stages of finalising merchant bankers, the people said. The BMC is expected to raise ₹1,000 crore in this financial year, as reported by ET in April.
IIFL Finance has successfully raised $300 million through a four-year dollar bond sale to international investors, marking its second such issuance recently. The bonds were priced at 7.60%, reflecting strong overseas demand. This move allows the company to quickly access funds under its existing medium-term note program. Fitch Ratings has assigned an expected ‘B+(EXP)’ rating to these secured obligations.
Besides BMC, the Ahmedabad municipal corporation is in talks to raise ₹1,000 crore.
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