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Ten listed companies raised funds worth Rs 2,796 crore via rights issue in the first half of the current financial year, Prime Database said on Thursday.
This is a 29 per cent increase over the comparable period last fiscal. During April-September last year, only seven companies had mopped up Rs 2,163 crore.
However, these levels are far cry from Rs 6,749 crore raised in H1 of 2012-13.
The trend suggests that the companies are relying less on existing shareholders for mopping up additional funds. For example, during the first half of 2014-15, India Inc went in for large-scale mobilisation through qualified institutional placement of Rs 20,590 crore against Rs 5,402 crore in H1 of 2013-14.
The largest of the rights issue in H12014-15 was by Indian Hotels (Rs 1,000 crore), followed by NCC (Rs 599 crore) and IL&FS Transportation (Rs 525 crore).
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