Corporates raise over Rs23,250 crore debt in April-June quarter

16 July 2007

Mumbai: Indian companies have mobilised a total of Rs23,252 crore through private placement of bonds in the first three months of current fiscal, even as government borrowing declined during the period.

Funds raised by 36 institutions represents a 23 per cent increase from the Rs18,851 crore raised in the same period last fiscal, according to figures provided by Prime database.

Private sector accounted for an 85 per cent jump in borrowing through bonds at Rs4,598 crore against Rs2,483 crore in the first three months of the previous fiscal.

However, government organisations and financial entities, put together, raised 80 per cent of the total amount, down from 86 per cent a year ago.

State level undertakings failed to mobilise any funds through debt, against Rs50 crore raised in the year-ago period. State financial institutions also recorded an 81 per cent fall at Rs15 crore against Rs77 crore last year.

All-India financial institutions raised funds worth Rs18,639 crore, a 15 per cent increase from Rs16,241 crore in the corresponding period of the previous year.