Page 15 of HCL Technologies

PFC and SIDBI have scrapped bond issuances worth Rs 11,500 crore due to rising yields, despite a recent rate cut by the RBI. PFC’s planned issuance of Rs 3,500 crore would have had a cut-off yield of 7.17%, higher than expected. SIDBI’s fundraising plans of Rs 8,000 crore also faced difficulties, with a cut-off yield of 6.86% instead of the desired 6.75%. Dealers express uncertainty