Bond sales nosedive as Covid 2.0 cripples India Inc’s capex plans

Bond sales nosedive as Covid 2.0 cripples India Inc’s capex plans

MUMBAI: This is a classic ‘this-time-that-year’ tale. Much of India is now sealed. So it was last summer, perhaps even more hermetically. But through that closed season, corporate bonds had opened to record subscriptions. Twelve months later, the deluge has dried to a dribble, mimicking the padlocked real economy beyond SoBo. Companies have cumulatively sold Rs 36,720 crore worth of bonds in FY22, JM Financial data showed. That compares with

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