Indian Bank Secures Rs 5,000 Crore Through Long-Term Infrastructure Bonds for Credit Expansion and Infrastructure Projects

Indian Bank Secures Rs 5,000 Crore Through Long-Term Infrastructure Bonds for Credit Expansion and Infrastructure Projects

Indian Bank, a prominent public sector lender, has successfully raised Rs 5,000 crore through the issuance of long-term infrastructure bonds, the bank announced on Friday. This bond issuance attracted substantial investor interest, with 90 bids totaling Rs 15,925 crore, far exceeding the base issue size of Rs 2,000 crore. The bank retained an additional Rs 3,000 crore through a Greenshoe option, bringing the total to Rs 5,000 crore.

The funds from this issuance will be strategically allocated to support credit growth and refinance infrastructure projects across India. According to Indian Bank, this capital infusion aligns with the institution's commitment to fostering long-term growth through targeted financing of critical infrastructure. These non-convertible, fully paid-up bonds have a fixed 10-year maturity, marking a robust step in ensuring sustained financial backing for key projects.

Indian Bank's move reflects the growing demand for reliable infrastructure financing sources, especially as India accelerates development across sectors. By leveraging long-term bonds, the bank reinforces its resource mobilization efforts to support vital projects and fuel economic growth.