India Inc raises Rs 1.89 lakh cr via corp bonds

India Inc raised Rs 1.89 lakh crore through corporate bonds on private placement basis in 2009-10 fiscal,an increase of 9 per cent over the previous fiscal.

According to a report by Prime Database,fiscal 2009-10 witnessed a mobilisation of Rs 1,89,478 crore through corporate bonds on private placement basis,against Rs 1,74,327 crore in the previous fiscal. On an industry-wise basis,the financial services sector continued to dominate the market,raising Rs 1,33,050 crore,or 70 per cent,of the total amount. Power ranked second with a 9 per cent share (Rs 16,474 crore),followed by oil exploration/ drilling/refining (Rs 6340 crore), Prime Database CMD Prithvi Haldea said.

According to the report,money raised by all-India financial institutions and banks went up by 5 per cent from Rs 1,02,886 crore to Rs 1,08,522 crore. Mobilisation by private sector rose 1 per cent from Rs 54,634 crore to Rs 55,178 crore,said the report. The most significant jump in money raised came from public sector units. The mobilisation was up 89 per cent to Rs 22,355 crore from Rs 11,814 crore in the previous year. State financial institutions mopped up 426 per cent more at Rs 1,337 crore from Rs 254 crore in 2008-09.