India’s corporate bond markets are set to flourish through newly structured funds attracting foreign investors worldwide. Investment opportunities once only accessible through banks or registration as a foreign institutional investor (FII) with the Indian regulator are now open to investors abroad wanting to buy Indian debt. Kotak’s recent launch of its fixed maturity plan has raised $140 million in three weeks from investors worldwide, indicating a genuine demand in India’s corporate bond markets.
Paul Parambi, head of the international business at Kotak Mahindra Bank, says Kotak hopes to generate yields of about 6.75%
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