Companies pick up Rs 5,586.5 crore from primary market
Mumbai: Companies raised an amount of Rs 5,586.5 crore from the primary markets in 1998-99, some 22 per cent more than in the previous year.

The Economic Times in a report said  financial institutions and banks raised 85 per cent of the funds. Companies from the electronics sector accounted for 3.6 per cent of the total collections, cement/construction companies 3.6 per cent and textiles 2.2 per cent.

Financial institutions ICICI and IDBI dominated the primary markets and between them raised Rs 4,450 crore through sales of bonds. The only big issue of a manufacturing company was that of India Cements, worth Rs 160 crore.
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