Listing Approval Received for Rs. 500 Crore Tier II Bonds on Private Placement
Listing approval received on Sept 29, 2026 for 50,000 unsecured, subordinated Lower Tier II bonds (NCDs) of Rs.1,00,000 face value each, aggregating Rs. 500 crores, issued on private placement.
- Bond Issue Size
- Rs. 500 crores
- Number of Bonds
- 50,000 unsecured, subordinated Lower Tier II bonds
- Face Value per Bond
- Rs. 1,00,000
- Maturity Date
- 25/09/2036
- Annual Interest per Debenture
- Rs. 9,950
What was shared
The bank made a disclosure to the exchanges under the SEBI centralised database requirement for corporate bonds, covering listing approval received on September 29, 2026 for a fresh bond issue.
The bond issue
- 50,000 Rated, Listed, Unsecured, Subordinated, Redeemable, Transferable, Fully Paid Up Lower Tier II Bonds in the nature of Non-Convertible Debentures
- Face value Rs.1,00,000/- each, aggregating Rs. 500 crores
- Issued on a private placement basis; allotment date September 25, 2026; listed on BSE; first issue under this ISIN
Interest and redemption
- Interest is annual, at Rs. 9,950 per Debenture on each due date
- First interest payment date is September 25, 2027; interest record dates fall 15 days prior to each due date
- Full redemption at maturity on 25/09/2036, with outstanding amount of Rs. 500 crores
- No interest or redemption payment has been made yet, as the bonds were only allotted in September 2026
Credit ratings
- Care Ratings Limited: CARE AA-, Outlook Stable, new rating, confirmed
- India Ratings and Research: IND AA-, Outlook Stable, new rating, confirmed
Default history
The bank states there have been no defaults or delays in servicing any other debt security it has issued.
How to read this
Lower Tier II bonds are a form of long-term borrowing that banks can count towards regulatory capital. For equity shareholders, this is a debt-side funding and compliance disclosure rather than a change in the bank's business operations. The figures above let readers gauge the size, cost profile and tenure of the borrowing.
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More numbers
- Number of NCDs listed50,000
- Face value per NCDRs.1,00,000/-
- Aggregate issue sizeRs. 500 crores
- Interest amount per debenture on due dateRs. 9,950 per Debenture
- Outstanding amountRs. 500 crores
- Interest record date lead time15 (Fifteen) days
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