Indian companies and financial institutions raised the highest ever amount through private placement of debt in the financial year 2014-2015, according to data collated by Prime Database.
On a year-on-year basis, Rs.4.32 trillion was raised in 2014-15, an increase of 60% over the Rs.2.71 trillion mobilised in 2013-14, thanks to fund raising activities by banks and other financial institutions, Sanjeev Khandelwal, executive director at Prime Database, said in a statement.
Banks and other financial institutions raised Rs.2.34 trillion of the total amount raised during the year. This was on top of Rs.1.46 trillion raised in the previous year. Private sector companies raised Rs.1.6 trillion during the year ended 31 March, a rise of 82% from the previous year.
The highest mobilisation through debt private placements during the period was by Power Finance Corp. Ltd at Rs.46,920 crore, Prime Database said in its statement. This was followed by Rs.34,538 crore raised by Rural Electrification Corp. Ltd, Rs.29,170 crore raised by Housing Development Finance Corp. Ltd and LIC Housing Finance Ltd’s Rs.24,791 crore, the statement said.