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Funds mop-up via preferential route slides 38.5% in April-Oct

Funds mop-up via preferential route slides 38.5% in April-Oct
For April-October 2013, firms had garnered Rs 34,851 crore through issuance of shares to their respective promoters and shareholders on a preferential basis, latest data compiled by capital market regulator Sebi showed.

However, the cumulative number of preferential issues stood at 293 for April-October 2014, 42 issues more than what was witnessed in the preceding period.

Month-wise, the fund mop-up in May this fiscal was the highest amount (Rs 5,142 crore) garnered by companies through issue of preferential shares, followed by Rs 3,271 crore raised in June.

Besides, companies had raised Rs 3,160 crore in April, Rs 2,159 crore in July, Rs 2,265 crore in August and Rs 2,821 crore in September.

For October, there were 39 preferential allotments valued at Rs 2,605 crore, a decline of 7.65 per cent in terms of value over the preceding month.

The latest data with Securities and Exchange Board of India (Sebi) was available only till October.

Of the total Rs 21,422 crore fund mop-up in the current fiscal, an amount of Rs 14,193 crore was mobilised from 119 issues listed on country's two stock exchanges — Bombay Stock Exchange (BSE) and National Stock Exchange (NSE. Moreover, Rs 4,437 crore was raised through 61 issues listed on the BSE, while funds amounting to Rs 3,324 crore were garnered from 126 issues on the NSE during the period under review.
PTI

PTI

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