The report said a consortium of domestic investors, including InCred Capital Financial Services, DSP Finance Pvt. Ltd. and IIFL Capital Services Ltd., subscribed to the rupee-denominated bonds issued as part of the fundraise.
Investor appetite was supported by expectations that the conglomerate could eventually monetise its 18.4% stake in Tata Sons Pvt. Ltd., potentially unlocking billions of rupees in liquidity, according to the Bloomberg report.
The report added that ASK Asset & Wealth Management Group and Nuvama Wealth Management Ltd. were also among the buyers of the bonds.
Global investors, including Farallon Capital Management, Davidson Kempner Capital Management and Cerberus Capital Management, each purchased bonds worth about $175 million to $200 million, according to the Bloomberg report, which cited people familiar with the matter.
