Fund raising via preferential allotment rises 25% in Apr-Sep 07/11/2017

Fund raising via preferential allotment rises 25% in Apr-Sep
07/11/2017 17:14
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Indian companies garnered over Rs 23,000 crore through issuance of shares on preferential basis during April-September of the ongoing fiscal, a jump of nearly 25 per cent from the year-ago period.
The funds were mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes.
As per the Securities and Exchange Board of India data, funds raised by listed firms through preferential allotment stood at Rs 23,234 crore in the first six months of 2017-18.
The funds accumulated during April-September of 2017-18 are 24.95 per cent higher as compared to same period of the previous financial year, when the companies mopped up Rs 18,594 crore.
In terms of numbers, 212 issues were witnessed in the first six months of the current fiscal as compared to 211 during the same period last year.
During the the first half of 2017-18, September was the busiest month, with the firms raising Rs 8,144 crore through the preferential allotment route, followed by August, June and May when they mopped up Rs 5,493 crore, Rs 4,825 crore and Rs 2,377 crore, respectively.
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