India Inc mops up Rs 4.32 lakh crore via private placement last fiscal
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In order to fund their business plans and meeting the capital requirements, Indian companies garnered Rs 4.32 lakh crore in the financial year 2014-15 through private placement of corporate bonds.
An Economic Times report revealed that this mop up was up 60% as against Rs 2.71 lakh crore mopped up by firms in the preceding fiscal 2013-14. This was the highest ever fund raising by companies in a financial year, as per the Prime Database report.
"On an industry-wise basis, thefinancial services sector continued to dominate the market, collectively raising Rs 3.19 lakh crore or 74% of the total amount. Power sector ranked second with an 8% share (Rs 35,312 crore)," Sanjeev Khandelwal, Prime Database executive director, told the financial daily.
During the period, the highest mobilisation through the channel of private placement of debt was byPower Finance Corp (Rs 46,920 crore). This was followed by Rural Electrification Corp (Rs 34,538 crore), HDFC (Rs 29,170 crore), LIC Housing Finance (Rs 24,791 crore), IDFC (Rs 15,114 crore), PGCIL (Rs 10,887 crore) and EXIM Bank (Rs 10,863 crore), as per ET.
Despite a rally of 25% in BSE's benchmarkSensex last fiscal, Indian companies flocked to the debt route instead of raising capital through public offers, the report added.
On the other hand, in the previous year, government organisations and financial institutions mobilised 47% of the total amount, which is less than the 54%. (Image: Thinkstock)
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An Economic Times report revealed that this mop up was up 60% as against Rs 2.71 lakh crore mopped up by firms in the preceding fiscal 2013-14. This was the highest ever fund raising by companies in a financial year, as per the Prime Database report.
"On an industry-wise basis, the
During the period, the highest mobilisation through the channel of private placement of debt was by
Despite a rally of 25% in BSE's benchmark
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