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Eighty one companies in India borrowed ₹43,147 crore through private placements in the first quarter of FY15 -- 55 per cent less than what they did the corresponding quarter of FY14 ( ₹96,186 crore).
PSUs did not borrow through this route at all as against ₹8,568 crore they did in the same quarter of last year. Borrowings by banks and financial institutions declined 72 per cent from ₹47,272 crore in Q1FY14 to ₹13,058 crore while state financial institutions borrowed ₹98 crore ( ₹1,251 crore in Q1FY14).
Pranav Haldea, Managing Director, PRIME Data base, said in a statement, “Financial Services sector continued to dominate the market, collectively raising ₹26,407 crore or 62 per cent of the total amount. Real estate ranked second with a 9 per cent share (₹4,056 crore).”
State PSU borrowing however, grew seven per cent from ₹933 crore to ₹1,000 crore during the first quarter.
HDFC (₹4,450 crore), EXIM Bank (₹3,018 crore), IOT Utkal (₹3,000 crore), IDFC (₹2,730 crore), and Reliance Jio (₹2,500 crore) were the top five fund raisers through private placements during the quarter.
The private sector was the biggest contributor in Q1FY15 mobilising ₹28,991 crore (₹38,161 crore in Q1FY14) a decrease of 24 per cent.
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