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| India Inc mops up Rs 40,000 cr debt in Q1 |
| Press Trust Of India / New Delhi Sep 18, 2009, 00:48 IST |
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India Inc’s fund raising through private placement of debt surged 42 per cent to Rs 40,300 crore in the first quarter of the current fiscal, with over half of the fund being mobilised by financial institutions.
The April-June quarter of the current fiscal witnessed a mobilisation through debt (bonds) on private placement basis of Rs 40,300 crore, up 42 per cent from Rs 28,385 crore raised in the first quarter of last financial year, market research firm Prime Database said.
With over 67 institutions and corporate houses raising the total amount during the June quarter of the current fiscal, the biggest mobilisation through the route came in from financial institutions, including banks.
A debt private placement refers to issue of securities, usually bonds, sold without a initial public offering, usually to a small number of chosen private investors.
In the June quarter, fund raising of financial institutions through debt private placement increased 35 per cent to Rs 21,002 crore.
On sector-wise basis, private sector surpassed public sector in terms of fund raising. “The sector, which witnessed the most significant growth was the private sector whose mobilisation went up by 50 per cent from Rs 11,184 crore to Rs 16,753 crore,” Prime Database Chairman and Managing Director Prithvi Haldea said.
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