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Indian companies raised close to Rs 51,000 crore through private placement of corporate bonds in November, a surge of 32 per cent from the year-ago level, for business expansion and propping up working capital needs. With the latest mobilisation, the total fund-raising through a private placement of debt securities reached Rs 4.2 lakh crore in the April-November period of 2017-18 fiscal, as per the latest data by markets regulator Securities and Exchange Board of India (Sebi). In the entire 2016-17 financial year, the capital raked in through the route stood at Rs 6.4 lakh crore. In private placement of bonds, firms issue securities or bonds to institutional investors to raise capital. Companies garnered Rs 50,855 crore from debt on a private placement basis last month, much higher than Rs 38,645 crore raised in November 2016. In volume terms, however, just 145 issues were made last month compared with 221 in the year-ago period. The funds have been raised mainly for business expansion, to support working capital requirements and retire their existing debt.