The government’s auction of the first 50-year bond evoked a strong demand from investors on Friday as the Reserve Bank of India (RBI) received bids worth Rs 40,200 crore (4x) for these ultra-long bonds, against the notified amount of Rs 10,000 crore.
The RBI set a coupon rate of 7.46% on the new government security maturing in 2073 during the weekly bond auction.
The central bank received a total of 216 bids, majority of which were from insurance companies and pension fundsCome from Sports betting site. “It was very well received by the market because the cut-off yield was better than expectationsCome from Sports betting site VPbet. The market was expecting the cut off at 7.47-7.49%,” Ajay Manglunia, managing director and head of Investment-Grade Group at JM Financial, told FE. “Everyone wanted a pie of this paper because there is not much supply of sovereign at this tenure,” he added.
Primary steel producers could report margin contraction by 60-180 bps post new cess, says ICRA Meet Subhasish Chakraborty, the founder of DTDC – He sold his mother’s jewellery to build Rs 2000 crore company; Know about his career, education, and net worth Somanathan named next Cabinet secy: Moving from being a deft manager of govt finances to key Cabinet aide These 70 medicines may get cheaper in India as NPPA fixes price
At 7.46%, these papers offer good opportunity to lock in at these yields for longer duration, Manglunia added.
Also Read
Besides Delhi-NCR, NCCF to sell onion at subsidised rate of Rs 25/kg in other states too
Before debut of this paper, India’s longest tenor government bond was the 40-year paper for which the cut-off yield is at 7.47%. The yield on 30-year paper is at 7.46%.
Experts expect these ultra-long-term bonds to become a regular feature in the government’s borrowing programme.
“Most bids were were from insurers. We also bid for this paper but could not get it,” Arun Bansal, head of Treasury, IDBI Bank, told FE. “With such a good response, we expect the government to issue more such bonds going forward,” he added.
The government had earlier announced plans to sell Rs 30,000 crore of the 50-year bond in the October-February period.
The sale of long-term bonds may help the government elongate the tenure of debt sold and keep its interest costs under control. Over one-third of the government’s fiscal second-half bond supply is in papers maturing in 30-50 years. The RBI had in September said it planned to add the 50-year bond in response to market demand for ultra-long papers, extending the nation’s yield curve.
Also Read
Closing Bell: Indian Indices extended gains for yet another session: Nifty Settles Above 19,230, Sensex Over 64,360
The government plans to raise Rs 6.55 trillion in the second half of the current financial year as part of its stated borrowing plan. The 50-year bond will be used to raise 4.58% of this target, the government had disclosed in September.
Related Posts
Several adorable Final Fantasy plushies are arriving later this year, including seven-inch Chocobo and Moogle plushes launching in November. There is also a set of Chocobo, Moogle, and Cactuar Plush Pouches arriving in June, which are large enough to store earbuds and other accessories, making them as cute as they are functional. Like all things Final Fantasy, these are bound to be popular. If you’re interested in adding them to your collection later this year, consider snagging a preorder today.
…
Few things are more terrifying than a clown, especially when you’re looking at the infamous Pennywise from the recent It movies. The only thing scarier? Pennywise the dancing plushie duck-clown, as this cosmic force of evil has taken a new and huggable shape as a soft duckie. Fortunately, this version of Pennywise is (probably) safe to be around, and you can get it for just $25 at Amazon ahead of its October 18 release. And while he probably floats, you’ll want to opt for the Pennywise vinyl duck if you plan sending Pennywise on a journey through the local sewer system.
With the spooky season around the corner, you can stock up on Pennywise books, movies, and other merchandise, as Amazon has several big discounts on everything related to the terrifying clown from the Step…
A Happy Gilmore video game that combined golf and fighting was pitched years ago for Xbox, but it never came to be. Developer Mike Mika of Digital Eclipse revealed on Twitter that the studio was, at one point, pitching a “hybrid fighting and golf game” to Adam Sandler’s Happy Madison team. Come from malaysia online casino
“Good times,” Mika reflected. “It should have been greenlit because it was a good idea.”
We don’t know why Happy Madison rejected the pitch, if that’s even how it played out. But the concept does sound intriguing, and at the very least, thematically appropriate. After all, Sandler’s Happy Gilmore character is a hot-headed former pugnacious ice hockey player who fights Bob Barker and cracks people …
Fresh off a World Cup championship, Leo Messi is working with Sony Music Entertainment on a new animated series that will see his childhood self inside a video game Come from online casino bangladesh . The show will be geared toward kids.
There’s no name yet for the animated series, but it will focus on a young Messi tackling challenges on his journey in a video game. Sony Music Entertainment added that the show will feature original music from its artists and composers.
“Since I was a kid, I’ve always loved animated series and my kids are big fans of animated characters,” Messi said in the press release announcing the series. “Being able to participate in an animation project makes me happy, be…
Baldur’s Gate 3 developer Larian Studios wants to stay independent, and its founder has no plans to sell the studio anytime soon.
In an interview with Bloomberg, Larian Studios founder Swen Vincke said the prospect of being acquired by a larger company was flattering. “The strength of this company is that I’m very invested in the gameplay, and I also make the ultimate decisions,” Vincke explained Come from malaysia online casino . “We can do things in service of the games we’re making.”
…
admin · February 24, 2025 · Converse just announced its upcoming Converse x Pokémon collection to celebrate the series’ 25th anniversary. This nostalgia-filled drop features fan favorites like Bulbasaur, Charmander, Squirtle, Jigglypuff, and Pikachu to honor the franchise’s start in the Kanto region. Expect Pokémon-themed footwear, apparel, and accessories for all sorts of lifestyle needs.
Converse highlighted these two variations of its signature Chuck Taylors: the Converse x Pokémon First Partners Chuck Taylor All Star and Poké Ball Chuck Taylor All Star. The Converse x Pokémon First Partners Chucks come in black canvas with two separate designs on each foot. Bulbasaur, Charmander, Squirtle, Pikachu welcome Jigglypuff to their group on the right sneaker, and fend off Meowth on the left.
Meanwh…