Piramal Fin aims to raise up to  USD 1 bln in...

Key Highlights

• In FY25, it had raised USD 800 million through external commercial borrowings and bond issue routes, but had not raised any money from foreign sources in FY26 given the rate cuts which made local borrowing cheaper, he added.
• The landed cost of funds in rupee terms, including hedging costs for the latest issuances, is in the range of 8–8.5 per cent, as against the incremental funding cost of 8.75-8.80 per cent for funding from domestic markets, He said, adding that this is accretive from a net interest margins perspective.
• However, not every foreign issuances will be NIM accretive, Sridharan said, adding that such issuances are necessary from a diversity of funding sources perspective.
• The company has a target to get 12-15 per cent of its overall liabilities from foreign sources, he said, adding that this will be across all routes.
• The latest funding from multilateral agencies which will be repaid over five years is important for the company because another avenue of fund raise gets opened.