India Inc garners Rs1 trillion via debt placement
India Inc raised over Rs 1 lakh crore through private placement of corporate debt securities or bonds in the first two months of the current fiscal, with April witnessing highest such raising in a month in over eight years.
The funds will be used mainly for business expansion and support working capital requirements. The mop-up follows Rs 4 lakh crore raised by Indian companies through debt in last financial year, 2014-15. According to the Securities and Exchange Board of India data, companies garnered Rs 20,692 crore in May after raising Rs 84,807 crore in April, taking the total amount to Rs 1,05,499 crore.
April marked the highest-ever fund-raising by Indian companies in a single month since January 2007. Data prior to this period is not available on Sebi Web site. "After a spectacular past fiscal, we are upbeat about overall <g data-gr-id="13">fund raising</g> through the private placement of corporate bonds route for the current financial year (2015-16) as well," an industry expert said.