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PSU bonds issues hit pause as yields rise despite rate cut
Mint Kolkata
|December 16, 2025
tenor government borrowing kept pressure firmly on the yield curve,” said Venkatakrishnan Srinivasan, founder and managing partner at Rockfort Fincap LLP.
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A zero-coupon bond is sold at over 20% discount.
(ISTOCKPHOTO)
“IRFC’s decision to withdraw the issue was therefore not a retreat, but a statement of market discipline since accepting materially higher yields would have undermined the credibility of the earlier tranche, unsettled existing investors and distorted price discovery for a still-nascent ZCB segment,” he added.
A zero-coupon or deep-discount bond is a security sold at a discount of over 20% from its face value. IRFC had received special approval from the government in May to issue ZCBs worth ₹10,000 crore.
This story is from the December 16, 2025 edition of Mint Kolkata.
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