The state-owned lender is preparing to launch its maiden bond issue soon to raise up to ₹1,000 crore. “This will be a ₹500 crore base issue, with a green shoe option of another ₹500 crore,” Babu told ET.
Trust Capital, AK Capital and Tipsons have been appointed advisers for the issue. The proposed blue bonds are aimed at investors seeking exposure to maritime projects. On Friday, the benchmark 10-year government bond yield stood at 6.996%.
Sagarmala Finance Corporation is set to launch India’s first blue bonds this fiscal year. The state-owned lender aims to raise up to ₹1,000 crore through this maiden issue. These bonds will fund maritime projects, attracting investors interested in this sector. This move will help address the company’s asset-liability mismatch. The corporation has a mandate to raise ₹25,000 crore.
Sagarmala Finance Corporation Ltd (SMFCL), India’s first maritime-focused non-banking finance company, aims to achieve cumulative disbursements of ₹60,205 crore by 2030-31. The company has a mandate to raise up to ₹25,000 crore.Officials said the planned fund raise would help address the lender’s asset-liability mismatch. While its existing borrowings have an average repayment period of about 3.5 years, its loan assets typically have a gestation period of around 12 years.
