New Delhi: India Inc mopped up a whopping Rs56,169 crore through debt on a private placement basis during the first quarter of current fiscal, recording a growth of 31% compared to the same period a year earlier, reports PTI.
The April-June quarter of the current fiscal witnessed a mobilisation through debt (bonds) on private placement basis of Rs56,169 crore, up 31%, as against Rs42,715 crore mobilised in the corresponding period of the previous year, as per a report released by Prime Database today.
The funds raised during the June quarter was mobilised by a handful of 79 institutions and corporates. Only such deals which have a tenor and put/call option of more than one year are reflected in this database.
The sector that witnessed the most significant growth was the public sector undertakings (PSUs), whose mobilisation went up by 114% from Rs2,910 crore to Rs6,235 crore, Prime Database CMD Prithvi Haldea said in a statement.
According to the report, the biggest mobilisation came from all-India financial institutions/banks who recorded a 48% increase to Rs33,520 crore, compared to Rs22,650 crore in the corresponding period of the previous year.
The highest mobilisation through debt private placements during the period was by Power Finance Corporation (PFC) (Rs6,678 crore), followed by IDFC (Rs4,420 crore), HDFC (Rs3,850 crore), IRFC (Rs3,455 crore), Power Grid Corporation of India (PGCIL) (Rs2,880 crore) and LIC Housing (Rs2,202 crore).
"On an industry-wise basis, the financial services sector continued to dominate the market, collectively raising Rs40,605 crore or 73% of the total amount. Power ranked second with a 10% share (Rs5,825 crore)," Mr Haldea said.
A fall, though marginal, in mobilisation came from private sector, down to Rs16,265 crore, compared to Rs16,961 crore in the corresponding period of the previous year, he added.
India Inc had raised Rs1.89 lakh crore through corporate bonds on private placement basis in last fiscal, an increase of 9% over the previous financial year.