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India industry raises Rs1.74 lakh cr via corporate bonds in FY09

India industry raises Rs1.74 lakh cr via corporate bonds in FY09
PTI
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First Published: Mon, Jul 13 2009. 03 45 PM IST
Updated: Mon, Jul 13 2009. 03 45 PM IST
New Delhi: India industry has raised over Rs1.74 lakh crore through issue of corporate bonds on private placement basis in the fiscal 2008-09, driven by huge mobilisation by the private sector firms, a report says.
According to data complied by capital market data provider Prime, the funds raised have increased substantially to Rs1,74,327 crore last fiscal from Rs1,15,423 crore in FY2007-08, a jump of over 51%.
The major reason for the substantial increase in fund raising through corporate bonds was due to the significant growth in the raising by the private sector, whose mobilisation went up by 152% to Rs54,634 crore in FY09 from Rs21,691 crore in the previous fiscal.
The other sector which continued to witness large mobilisation was financial institutions and banks, with their mobilisation going up by 18% to Rs1,02,886 crore from Rs87,542 crore, the Prime report said.
“Government organisations and financial institutions, put together, witnessed a decline, mobilising 69% of the total amount in the year, down from 81% in the previous year,” it said.
On an industry-wise basis, the financial services sector continued to dominate the market, mopping up Rs1,23,251 crore or 71% of the total amount.
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First Published: Mon, Jul 13 2009. 03 45 PM IST
More Topics: Funds | Bonds | India | Markets | Money |