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Photo: Mint
Photo: Mint

Indian firms sell record amount of rupee bonds after stimulus

The flurry mirrors unprecedented issuance around the world

Indian companies have raised about Rs4 trillion ($54.2 billion) through local notes since April 1, the best start to a financial year ever.

The flurry mirrors unprecedented issuance around the world.

It comes after unconventional stimulus steps by the authorities drove spreads on AAA rated three-year corporate bonds to the lowest level in close to 15 years.

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