Interise Trust

By Khushi Malhotra and Dharamraj Dhutia

MUMBAI, Sept 28 (Reuters) - Indian companies are rushing to lock in borrowing costs ahead of a potential rate hike by the central bank, with about $3 billion of rupee debt issuances lined up over the next few days.

Large Indian conglomerates, state-run firms, infrastructure investment trusts and non-bank finance companies are preparing at least 290 billion rupees ($3.02 billion) of short- to long-duration bond sales ahead of the central bank's October 7 monetary policy decision.

Some of the prominent corporate borrowers issuing debt include Reliance Industries RELI.NS, Vedanta VDAN.NS, Delhi International Airport, Adani Airport Holdings and JSW Energy JSWE.NS, seeking an aggregate 185 billion rupees, while infrastructure-related firms Cube Highways Trust CUBH.NS, Interise Trust ITES.NS and India Infradebt are eyeing 60 billion rupees.

"Issuers who have a view that rupee interest rates will go even higher are locking in rates," said Akshay Naik, India head of debt capital markets at Citibank.

"We expect issuances, particularly from large, frequent and high-rated issuers to be absorbed by investors."

LIKELY RATE HIKE

A large majority of market participants expect the Reserve Bank of India to raise interest rates, with further liquidity-draining measures on the cards. If they're right, it would mark the RBI's first rate hike since February 2023.

"With the October policy approaching, there is some uncertainty around the direction of interest rates and liquidity conditions," said Harish Reddy, co-founder, Stable Money, a fixed income investment platform.

The policy decision has as its backdrop signs of broadening inflation in India and hikes by major central banks globally, including by the US Federal Reserve. Expectations for RBI policy have shifted over the past month amid a pickup in inflation and stubbornly higher oil prices, bringing prospects of an October rate hike into focus.

Several foreign banks, including Citi and Deutsche Bank, have brought forward their rate-hike calls from December to October, while market pricing reflects a higher likelihood of a longer tightening cycle.

While a rate hike hanging over the market's head is pushing up corporate issuance, there is also "a lot of liquidity in the (banking) system to absorb this supply," said Ankit Gupta, founder and MD, Digifinn, an online bond trading platform.

($1 = 95.9775 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; editing by Nimesh Vora and Ronojoy Mazumdar)

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Interise Trust's Investment and Finance Committee approved availing debt of up to Rs 2,500 crore through issuance of debt securities including non-convertible debentures and commercial papers in one or more tranches. The approval was taken at a meeting on September 21, 2026, and followed a prior notice to consider borrowing that specified no amount, tenor or instrument.

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Interise Trust approved the issuance of commercial paper in one or more tranches for an aggregate amount of up to ₹1,800 crore. The disclosure did not specify the purpose, maturity, pricing or timing of the proposed issuances.

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Aug 18 (Reuters) - Interise Trust ITES.NS:

• INTERISE TRUST - TO CONSIDER BORROWING OR ISSUANCE OF SECURITIES ON AUGUST 21, 2026

Source text: ID:nBSE3PyK2v

Further company coverage: ITES.NS

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Interise Trust announced that NHAI has issued a new circular superseding its earlier circular that had proposed reducing the WPI linking factor for toll revision from 1.641 to 1.561. The new circular, dated July 8, 2026, confirms that the original factor of 1.641 will continue to be used for all existing and future contracts. The earlier circular had been kept in abeyance by the Delhi High Court in October 2025, and this resolution removes the uncertainty around toll revenue growth for the trust's highway projects.

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March 16 (Reuters) - Interise Trust ITES.NS:

• RE-FINANCING OF EXISTING BORROWINGS VIA FRESH BORROWINGS UP TO 33.50 BILLION RUPEES

Source text: ID:nBSE6J8PH0

Further company coverage: ITES.NS

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Feb 12 (Reuters) - Interise Trust ITES.NS:

• DEC-QUARTER CONSOL PROFIT 310.6 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 9.1 BILLION RUPEES

• APPROVES COMMERCIAL PAPERS UP TO 9.50 BILLION RUPEES

Source text: ID:nNSE9JZfzQ

Further company coverage: ITES.NS

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MUMBAI, Oct 14 (Reuters) - India's Interise Trust ITES.NS plans to raise up to 20.75 billion rupees ($233.9 million) through two series of bonds maturing in 19 years, five months and 15 days each, three bankers said on Tuesday.

The Infrastructure Investment Trust will pay a coupon of 6.96% and 7.3014%, respectively, payable quarterly, they said.

"Staggered Redemption for both series will start from December 31, 2025, quarterly thereafter and on maturity as per redemption schedule," one of the bankers said.

One issue has a call option at end of three years and another at end of 10 years, they added.

The trust has invited commitment bids for the issue on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on October 14:

* Size includes base plus greenshoe for some issues

($1 = 88.7000 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sumana Nandy)

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