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New Delhi: Indian companies raised a record Rs 4 lakh crore in 2014-15 through private placement of corporate bonds to meet business needs despite a sustained rally in the stock market.
Firms raked in Rs 4.04 lakh crore last fiscal, which ended on March 31, through private placement of corporate bonds, higher than Rs 2.76 lakh crore garnered in the preceding financial year, as per the latest data available with capital market regulator Sebi.
The previous high was in 2013-14, when companies had mopped up Rs 3.6 lakh crore.
In debt private placements, firms issue securities or bonds to institutional investors to raise capital.
These funds have been raised mainly for expansion of business plans and to support working capital requirements.
Despite a rally of 25 per cent in BSE's benchmark Sensex in the past fiscal, companies flocked towards debt route instead of raising capital through public offers.
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