After hitting a new high in 2017, corporates cut back on bonds in 2018

In 2017, companies had raised record Rs 1.8 trillion from the bond market through 528 issuances

After scaling a new high in 2017, there has been a slowdown in corporate borrowing through bonds as yields rise and corporate capital expenditure (capex) is yet to pick up in the country. The total bond borrowings by corporates (companies, excluding banks and financial services) are down 25 per cent during the first six months of the current calendar year, compared to the same period in 2017. 

In all, companies have raised around Rs 650 billion through 168 bond issuances during the current calendar year through till July 12, against Rs 868 billion (through 251 bond issues) raised during the corresponding