India Inc raises Rs 100K cr via bonds

Indian companies raised over Rs 1,00,000 crore through issue of corporate bonds on a private placement basis in the nine-month period...

Written by ENS Economic Bureau | Mumbai | Published: February 18, 2009 12:20:16 am

Indian companies raised over Rs 1,00,000 crore through issue of corporate bonds on a private placement basis in the nine-month period ended December this fiscal. This huge mobilisation was largely driven by public sector undertakings.

According to Prime Database,the funds raised surged by over 46 per cent to Rs 1,17,937 crore during the April-December period of this fiscal from Rs 80,900 crore in the corresponding period last year.

The highest mobilisation through debt private placements during the period was by PFC (Rs 12,613 crore),followed by REC (Rs 8,943 crore) and Reliance Industries (Rs 8,000 crore) among others.

The mobilisation by public sector undertakings also grew nearly five-fold till December in the current fiscal from Rs 7,700 crore in the previous year,Prime said. Fund raising by financial institutions and banks through private placement of corporate debt went up by 10 per cent to

Rs 65,358 crore in the nine-month period from Rs 59,480 crore a year-ago,it said.

However,state financial institutions fund mop up plunged to Rs 130 crore in the April-December period from Rs 1,120 crore in the year-ago period.

On an industry-wise basis,according to Prime Database,the financial services sector continued to dominate the market raising Rs 81,476 crore or 69 per cent of the total amount. Also,diversified sector ranked second with a 9 per cent share (Rs 10,850 crore).

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