India's JSW Paints eyes 4, 5-year debt to refinance acquisition-led funding, bankers say
MUMBAI: India’s JSW Paints is likely to raise funds through issuance of bonds maturing in four years and five years and should go ahead with the sale in the next couple of weeks, two merchant bankers with direct knowledge of the matter said on Thursday. The company could look to raise around 30 billion rupees ($316.56 million), the bankers said. The bankers requested anonymity as they are not…
India's JSW Paints is set to raise funds through the issuance of bonds maturing in four and five years, according to two merchant bankers familiar with the matter. The company is expected to raise approximately 30 billion rupees, the bankers said, without providing a specific date for the sale. The funds raised could be used to refinance an earlier acquisition-led funding round, the bankers added.
JSW Paints did not respond to a request for comment from Reuters. In November 2025, JSW Paints had raised 33 billion rupees by selling five-year bonds directly to large foreign banks and investors. The bonds included a put option that allowed the holders to sell them back to the issuer after one year. Indian companies have been increasingly relying on the bond market to fund acquisitions, driven by strong demand from investors that could result in a record year for corporate debt issuance in the country.
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