Indian lender Capri Global Capital Ltd. is eyeing its first dollar bond, targeting a raise of $200 million to $300 million. Sources say the move aligns with a surge in borrowing by non‑bank finance companies seeking to meet rising credit demand across the country in India's market.

By tapping the dollar market, Capri aims to diversify funding sources and reduce reliance on domestic debt, which has become costlier amid tightening monetary policy. The bond would also signal confidence in the firm’s asset quality and growth prospects to international investors in 2024 year.

Market watchers note that a successful issuance could set a precedent for other non‑bank lenders, potentially easing funding constraints in the sector. Investors will scrutinize the bond’s coupon rate, maturity, and credit rating, all of which will shape its appeal in a competitive debt market.

Capri’s decision follows a broader trend of Indian finance firms raising capital abroad to hedge against domestic liquidity pressures. Analysts predict that a well‑structured dollar bond could boost the company’s credit profile, making future equity or debt issuances more attractive to global investors in 2025.