India’s Piramal Capital and Housing Finance is planning its maiden dollar-bond sale as tighter regulations by the nation’s central bank stifle domestic funding sources for shadow lenders, according to people familiar with the matter.
Billionaire Ajay Piramal’s firm is in talks with a group of global investment banks to raise $300 million to $500 million via such notes with a tenor of three to five years, the people said, asking not to be identified as the discussion are private.
