Cos mop up Rs 46,000-cr via primary mkt in April-Jan

Indian firms raised a staggering Rs 46,000 crore from the primary markets in first 10 months of the current fiscal, mainly due to robust fund mobilisation through IPOs. In comparison, firms garnered Rs 13,158 crore in the April-January period of 2014-15. Most of the funds have been raised for expansion plans, to repay debt and for other general corporate purposes. “During 2015 16, primary securities market seems to have come out of its lull. Both the total number of issues and the resources mobilised from the primary securities market have gone up. IPOs have contributed to this performance more than public debt issues and rights issues,” capital markets regulator Sebi noted. Out of Rs 46,014 crore raised during April-January period of the ongoing financial year, Rs 24,552 crore have been mopped-up through debt and another Rs 21,462 crore via equities. Within equity markets, a total of 53 firms have hit the capital markets to raise Rs 12,678 crore through initial public offers (IPOs) and 11 firms have raised funds via rights issue mode.