Fund raising via preferential allotment up 3 pc in Apr-Nov

New Delhi: Indian companies garnered nearly Rs 28,000 crore through issuance of shares on preferential basis during April-November of the ongoing fiscal, a jump of over 3 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 (Sebi) data, funds raised by listed firms through preferential allotment stood at Rs 27,874 crore in the first eight months of 2017-18.

The funds accumulated during April-November of 2017-18 are 3.23 per cent higher as compared to same period of the previous financial year, when the companies mopped up Rs 27,001 crore.

In terms of numbers, 264 issues were witnessed in the first eight months of the current fiscal as compared to 279 during the same period last year.

During April-November of 2017-18, September was the busiest month, with the firms raising Rs 8,144 crore through the preferential allotment route, followed by August (Rs 5,493 crore), June (Rs 4,825 crore) and October (Rs 3,128 crore).