India Inc raised over Rs 1.74 lakh crore through the issue of corporate bonds on a private placement basis in FY09, driven by huge mobilisation from private sector companies, a report said.
According to data complied by capital market data provider Prime, Rs 1,74,327 crore was raised in FY09 compared with Rs 1,15,423 crore in FY08, a jump of over 51 per cent.
The private sector was the major fund mobiliser. Its mobilisation jumped by 152 per cent to Rs 54,634 crore from Rs 21,691 crore in FY08.
The other sector which continued to witness large mobilisation was financial institutions and banks, who recorded an 18 per cent growth in mobilisation to Rs 1,02,886 crore from Rs 87,542 crore, the Prime report said.
On the whole, government organisations and financial institutions witnessed a decline, mobilising 69 per cent of the total amount in the year, down from 81 per cent in the previous year, the report said.
On an industry-wise basis, the financial services sector continued to dominate the market, mopping up Rs 1,23,251 crore or 71 per cent of the total amount.
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Further, the power sector accounted for 7 per cent share (Rs 12,671 crore), followed by diversified (Rs 11,100 crore) in the total funds mobilised.
The report revealed that the mobilisation by state-level undertakings grew by 251 per cent to Rs 4,738 crore from Rs 1,348 crore in the previous year. Public sector undertakings saw an increase of 234 per cent to Rs 11,814 crore in 2008-09 from Rs 3,533 crore in the previous year.
On the other hand, a major fall in mobilisation came from state financial institutions, dropping by 81 per cent to Rs 254 crore in FY09 compared to Rs 1,309 crore in the previous year.
Besides, a significant additional amount of Rs 18,8100 crore was raised through 2,833 deals of less than one-year tenor bonds by 83 issuers (previous year Rs 62,387 crore).
Total amount of Rs 15,466 crore (previous year Rs 33,128 crore) in 91 deals was raised through pass-through certificates (securitised paper).