HDFC Bank is top corp bond arranger

HDFC Bank topped the list of corporate bond arrangers in July-September, the second successive quarter, as per data compiled by Cogencis and sourced from National Securities Depository Ltd. It was also ahead of its competitors in three of the six months this fiscal. India's largest private sector bank arranged 54 bond deals valued a total of 170.55 billion rupees during the quarter. Out of these, 20 deals of about 103.65 billion rupees were solely arranged by HDFC Bank, taking it to the top of the league table.


Axis Bank bagged the second position with 35 deals worth 159.95 billion rupees, followed by ICICI Bank, which arranged 58 deals worth 116.21 billion rupees in July-September. Thus far this financial year, HDFC Bank has come out as the top arranger of corporate bond issuances in September, July, and May. The top spot was claimed by Axis bank in August and April, and by ICICI Bank in June. All the top arrangers participated in multiple bond auctions by banks, financial institutions and companies during the quarter. During July-September, companies raised 2.07 trillion rupees through 663 bonds, against 1.62 trillion rupees through 493 bonds a year ago, according to data compiled by Cogencis from the National Securities Depository.


In September, HDFC Bank toppled Axis Bank from the top position among corporate bond arrangers by managing 14 deals worth 74.95 billion rupees, as per the data compiled by Cogencis. HDFC Bank exclusively arranged Hindustan Zinc Ltd's maiden bond offering worth 35.2 billion rupees, as well as a 7-billion rupee bond issuance by Wipro Enterprises Ltd. It also exclusively arranged bond offerings of Axis Finance Ltd, Biocon Biologic India Ltd, and HDB Financial Services, although the quantum of funds mobilised through these was small. 


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