Fund raising by India Inc through private placement of debt securities or bonds surged to a four-month high of over Rs 23,500 crore in October.
According to the data available with the Securities and Exchange Board of India (SEBI), companies garnered Rs 23,567 crore from debt market on a private placement basis route through 150 issues.
This was the highest amount raised in by companies through private placement of debt securities since July when they had garnered Rs 35,214 crore.
“In the corporate debt market, Rs 23,567 crore was raised through 150 issues by way of private placement listed on the BSE and NSE during October 2013 compared with Rs 17,763 crore raised through 128 issues in September 2013,” the SEBI noted.
In August, companies had mopped up Rs 2,089 crore via debt placement route, making it the lowest amount raised by the firms in a month since February 2006, when they had garnered Rs 1,084 crore.
According to experts, fund raising increased in September after new Reserve Bank of India Governor, Raghuram Rajan, announced 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 1.66 lakh crore in the first-seven months of the current financial year against Rs 3.61 lakh crore mobilised during last financial year (2012-13).