• Tuesday, November 29, 2022

Business

HDFC masala bond ‘a taste of things to come’

Navtej Sarna (in turban, centre) is flanked by Nikhil Rathi (left), CEO of the London Stock Exchange, and Deepak Parekh (right) as the HFDC rupee bond is lauched at the London Stock Exchange

By: Eastern Eye Staff

The Housing Development Finance Corporation (HDFC) of India launched a masala bond at the London Stock Exchange on Monday (1) in what is being interpreted as a gesture of confidence in the post-Brexit British economy. So far, 30 off-shore rupee bonds have been listed on the London Stock Exchange but HDFC’s was the first by an Indian corporate, it was pointed out. Deepak Parekh, chairman of HDFC, launched the masala bond alongside the Indian high commissioner Navtej Sarna, with the Foreign Office minister Alok Sharma, also present. Sources revealed Parekh had, for a while, considered the virtues of Hong Kong…

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