Indian companies have successfully raised close to INR 24,000 crore by issuing (NCDs) to meet their business needs in the first half of the current fiscal.
The firms had mobilized more than INR 1,502 crore in the April-September period of the corresponding previous financial year. The funds have been raised to support working capital requirements and other general corporate purposes.
The companies have raised funds totalling INR 23,901 crore through retail issuance of NCDs during April-September period of 2016-17 according to the latest data with the Securities and Exchange Board of India (Sebi). The funds were raised through 10 issuance in the first half of the current fiscal as compared to 4 in the year-ago period in terms of number.
Dewan Housing Finance Corporation Ltd and Kosammattam Finance took the NCD route twice to mobilize capital during the current fiscal.
Individually, Indiabulls Housing Finance has raised INR 7,000 crore against a target of INR 3,500 crore and Mahindra & Mahindra Financial Services mopped up INR 1,000 crore against a base size of INR 250 crore.
Moreover, many companies have lined up plans to raise funds through NCDs on a private placement basis.
The companies had raked in INR 33,812 crore in the 2015-16, while in 2014-15, they had raised Rs.9,713 crore through this route.
Indian Companies Raise INR 23,901 crore via NCDs in First Half
