The company plans to increase the cash in hand to Rs 25,000 crore for about a year.

Housing finance major HDFC raised Rs 4,300 crore through a qualified institutional placement issue of non-convertible debentures (NCD).

Fixed rate loans are expensive even though floating rates have come down to single digits for new borrowers.

Some of the Tata Group companies, led by Tata Motors, are in talks with merchant bankers to float debt securities in coming weeks.