Indian Debt Market Buzzes: States, Corporates Drive Bond Issuance Surge

• Bond issuances are increasing across state governments, financial companies, banks, and corporates in India.
• RBI reported 14 states raised nearly ₹380 billion through bond auctions, funding spending and infrastructure.
• Poonawalla Fincorp, Veritas Finance, and Tiruchirappalli Municipal Corporation are among those seeking to raise funds.
• Public sector entities like NHPC (₹20 billion) and REC Ltd (₹1.5 trillion) have significant NCD plans.
• Major corporates (Prestige Estates, JSW Steel, Torrent Pharma) and banks (Axis Bank, Bank of Maharashtra) are also tapping the debt market.