New Delhi, July 03: Funds raised by India Inc at home
and abroad went up five-fold in the first quarter of the
current financial year at Rs 11,714 crore, with more than half
of it being mobilised in the last week of June.
In the last week of June, Rs 6,553 crore was raised, which
accounted for 56 per cent of the total capital of Rs 11,714
crore mobilised in the first quarter of this financial year,
market research firm Prime Database said.
Fund raising through various instruments like rights
issues, initial public offers (IPOs) and qualified
institutional placements (QIPs) during the first three months
of FY'10 rose over five-fold from Rs 2,623 crore in the
corresponding period in FY'09, it said.
India Inc's primary market activity also rose on a
quarter-on-quarter basis with a Rs 278-crore IPO of Mahindra
Holidays & Resorts and a Rs 23-crore follow-on public offer
(FPO) of Rishabdev Technocable.
"Most companies have been waiting for a stable or a
buoyant secondary market, a pre-requisite for fresh capital
raising. There is no paucity of issuers. If the market goes on
an upward trajectory post Budget, one can hope for a steady
stream of issuances thereafter," Prime Database Chairman and
Managing Director Prithvi Haldea said.
With as many as 10 companies raising Rs 11,259 crore
through institutional placement in the June quarter, QIPs
cornered 96 per cent of the total money mobilised.
Bureau Report
First Published: Friday, July 03, 2009, 18:27