India Inc raises Rs 47,599 cr via bonds in nine months

The mobilisation of funds by corporates and institutions through bonds rose by 42 per cent, to Rs 47,599 crore in the first nine months of the current fiscal.

The debt mobilisation having a tenor of more than one year, by 78 institutions and corporates stood at Rs 47,599 crore in April-December compared to Rs 33,553 crore mobilised in the corresponding period of the previous fiscal, according to Prithvi Haldea, Prime Database.

The highest mobilisation through private debt placements during the period was by FCI (Rs 4,581 crore), followed by HDFC (Rs 4,325 crore), IDBI (Rs 3,446 crore), SBI (Rs 3,283 crore), PFC (Rs 2,542 crore) and IOC (Rs 2,225 crore).

It may be mentioned that full 2001-02, 2002-03, 2003-04 and 2004-05 had witnessed mobilisation of Rs 45,427 crore, Rs 48,424 crore, Rs 48,428 crore and Rs 55,184 crore respectively.

An increase in mobilisation came from All-India Financial Institutions/Banks, which recorded a 56-per cent increase, to Rs 31,536 crore compared to Rs 20,196 crore in the corresponding period of the previous year.

The leader in this category was HDFC (Rs 4,325 crore), followed by IDBI (Rs 3,446 crore).

The biggest increase came in the raisings by PSUs, at Rs 8,548 crore in the current period as against Rs 1,489 crore raised in the previous year's corresponding period. Major mobiliser was FCI (Rs 4,581 crore), followed by IOC (Rs 2,225 crore).

Compared to the same period in the previous year, the sector that witnessed a major decline in mobilisation was the state financial institutions, down by 64 per cent from Rs 658 crore, to Rs 237 crore.