Fund-raising by Indian companies through private placement of debt securities or bonds surged more than eight-fold to over Rs 17,700 crore in September.
According to the data available with the market regulator Securities and Exchange Board of India (Sebi),Indian firms garnered a total of Rs 17,763 crore in September from the debt on a private placement basis route after hitting a seven-year low of Rs 2,089 crore in the preceding month.
“In the corporate debt market,Rs 17,763 crore were raised through 128 issues,by way of private placement,listed at BSE and NSE during September 2013 compared to Rs 2088.71 crore raised through 55 issues in August 2013,” the Sebi noted.
According to experts,the fund raising increased in September after new RBI Governor Raghuram Rajan announced a slew of measures to boost the weakening rupee and revive economic growth.
With the latest fund mobilisation,overall capital raised through private placement of debt securities reached Rs 1.42 lakh crore in the first six months of the current fiscal as against Rs 3.61 lakh crore mobilised in the entire last financial year (2012-13).
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