India Inc raises record Rs 6.41 lakh crore through corporate bonds in FY17
DSIJ Intelligence / 16 May 2017
These funds were mostly used by the companies to expand businesses, repay debts and support the requirements of working capital.
Becoming the most sort after technique to raise funds, private placement of corporate bonds were majorly used by Indian companies to raise a record Rs 6.41 lakh crore in the fiscal year 2017. The usage of corporate bonds surged in the economy by 40 per cent in FY17 from the previous year.
These funds were mostly used by the companies to expand businesses, repay debts and support the requirements of working capital.
According to the data with the market regulator SEBI, Indian companies raised Rs 6,40,715 crore in FY17, substantially up from Rs 4,58,073 crore in FY16, marking the highest amount of fund raised by the Indian firms since the year 2001-02.
According to industry experts, the market witnessed high inflow of funds as a result of volatile equity markets and the prevalence of weak sentiments.
Whereas, in terms of numbers, 3,377 issues were made in FY17 against 2,975 issued in FY16.
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