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FINANCIAL | Retail Banking
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Investments

9

Portfolio Exits

1

Funds

2

About National Bank For Agriculture And Rural Development

National Bank For Agriculture And Rural Development provides direct financing and refinancing in order to support the rural economy of India.

National Bank For Agriculture And Rural Development Headquarter Location

Plot C-24, G Block, Bandra Kurla complex, BKC Road, Bandra East

Mumbai, 400051,

India

91-022-26539895

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Latest National Bank For Agriculture And Rural Development News

Corp bond issuances down 50% in October as yields rise-Business Journal

Nov 19, 2021

Corp bond issuances down 50% in October as yields rise-Business Journal By Apart from this, State Bank of India, National Bank for Agriculture and Rural Development, Embassy Office Parks REIT, IndusInd Bank and Housing Development Finance Corp are among larger fundraisers in October, according to data available on the electronic bidding platform of the BSE and the NSE. Fund-raising through issuance of corporate bonds, across ratings, fell almost 50% on a month-on-month basis in October, as issuers stayed away after yields on these instruments rose by 5-10 basis points. Issuances also declined 24% on a year-on-year basis. Dealers said most companies refrained as they had already borrowed heavily in September. “Expectations were building up that the policy normalisation could start from October MPC, which probably led to increased borrowings in September (almost double of August 2021). As a result, issuances in October were lower, at about 50% of September numbers,” said Anand Nevatia, fund manager with Trust Mutual Fund. According to Sebi data, companies, banks and financial institutions raised Rs 46,844.59 crore in October, against Rs 92,726.69 crore in September, and Rs 62,330.82 crore in October 2020. Of the total funds raised in October, four banks – State Bank of India , Bank of Maharashtra , IndusInd Bank and Canara Bank – raised Rs 11,300 crore by issuance of Tier-I and Tier-II bonds. Apart from this, State Bank of India, National Bank for Agriculture and Rural Development, Embassy Office Parks REIT, IndusInd Bank and Housing Development Finance Corp are among larger fundraisers in October, according to data available on the electronic bidding platform of the BSE and the NSE. The issuances dipped in October mainly because the central bank in the monetary policy started fine-tuning surplus liquidity from the banking system through VRRR auctions that led to rates on short-term instruments rising. Currently, liquidity in the banking system is estimated to be in surplus of around Rs 8 lakh crore. The central bank’s rapid liquidity management through VRRRs has led to a surge in the weighted average reverse repo rate, which has increased by 42 basis points from mid-September to 3.79%, a Kotak Mahindra Bank report said. This was supported by a higher cut-off set by the central bank in multiple reverse repo auctions, which made market participants expect that the reverse repo rate will be hiked in the December policy. The yield on AAA-rated corporate bonds increased by 5-10 bps in October and is now trading in the range of 5.34-38% on three-year papers, 5.82-90% on five-year papers and 6.88-95% on 10-year papers. Dealers with some issuers said most companies are waiting for the central bank’s stance on the reverse repo rate hike in the December policy. “If RBI does not hike rate, we can expect more companies and banks to tap the market in coming days,” one dealer said.

National Bank For Agriculture And Rural Development Investments

9 Investments

National Bank For Agriculture And Rural Development has made 9 investments. Their latest investment was in HESA as part of their Grant on October 10, 2021.

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National Bank For Agriculture And Rural Development Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/6/2021

Grant

HESA

$0.01M

Yes

2

3/4/2021

Corporate Minority - II

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$99M

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10

6/16/2020

Seed VC - II

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$99M

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10

7/12/2019

Grant

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$99M

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10

7/12/2019

Grant

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$99M

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10

Date

10/6/2021

3/4/2021

6/16/2020

7/12/2019

7/12/2019

Round

Grant

Corporate Minority - II

Seed VC - II

Grant

Grant

Company

HESA

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Amount

$0.01M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

2

10

10

10

10

National Bank For Agriculture And Rural Development Portfolio Exits

1 Portfolio Exit

National Bank For Agriculture And Rural Development has 1 portfolio exit. Their latest portfolio exit was Soulfull on February 02, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/2/2021

Acquired

$991

3

Date

2/2/2021

Exit

Acquired

Companies

Valuation

$991

Acquirer

Sources

3

National Bank For Agriculture And Rural Development Fund History

2 Fund Histories

National Bank For Agriculture And Rural Development has 2 funds, including Micro Irrigation Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

Micro Irrigation Fund

1

Agricultural Fund

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$99M

10

Closing Date

Fund

Micro Irrigation Fund

Agricultural Fund

Fund Type

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Status

Amount

$99M

Sources

1

10

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