Fund raise via preferential route slumps 54 pc

Indian companies raised Rs 4,212 crore in the first two months of the current fiscal by issuing shares on preferential basis, a slump of nearly 54 per cent year-on-year.
The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes.
As per the Securities and Exchange Board of India (Sebi) data, funds raised by listed firms through preferential allotment stood at Rs 4,212 crore during the April-May period of 2017-18 fiscal.
The funds accumulated during the first two months this year are 53.95 per cent lower as compared to the same period a year ago, when companies had garnered Rs 9,148 crore.

While there were 89 preferential allotments made during April-May period this year, the number stood at 111 in the same period of the previous fiscal.