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 Rs 17,763 crore in September via debt securities 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 was raised through 128 issues by way of private placement, listed on the BSE and NSE during September 2013 compared with Rs 2,088.71 crore raised through 55 issues in August 2013,” the SEBI noted.
According to experts, fund-raising increased in September after new RBI Governor Raghuram Rajan announced a slew of measures to boost the weakening rupee and revive the 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 against Rs 3.61 lakh crore mobilised in the entire last financial year (2012-13).