Companies raised Rs 47,000 cr via preferential share issue in FY'13

According to Sebi, companies raised Rs 46,939 crore through preferential allotments in the last fiscal as compared to Rs 25,709 crore in 2011-12

Indian companies raised a staggering Rs 47,000 crore through issue of shares on preferential basis to promoters and shareholders in 2012-13, a sharp rise of 83 per cent over the previous fiscal.

According to the data available with market regulator Sebi, companies raised Rs 46,939 crore through preferential allotments in the last fiscal as compared to Rs 25,709 crore in 2011-12.

Besides, the number of preferential issues rose to 420 in 2012-13 from 311 in the preceding fiscal.

"The cumulative mobilised amount for the financial year 2012-13, stood at Rs 46,939 crore through 420 preferential allotments (of which 145 allotments amounting Rs 26,768 crore were listed on both BSE and NSE)," it said.

In 2010-11, companies had raked in Rs 30,511 crore through preferential allotments to the promoters as well as shareholders.

Marketmen said a number of listed companies have opted for preferential allotment of shares for raising funds because of rise in the secondary market.

The BSE benchmark Sensex rose over 8% last fiscal on account of higher Foreign Institutional Investors (FIIs) inflow and a slew of reform measures taken by the government.

Interestingly, most of the funds were raised in the first two months of the last fiscal. In April 2012, firms garnered Rs 10,265 crore, and Rs 14,987 crore in May.