The total funds mobilised by Indian companies through non-convertible debentures (NCDs) during the first six months of this financial year jumped to the highest in at least seven years thanks to large issues by two mortgage lenders.
Indian companies raised a total of Rs 23,901.4 crore during April-September 2016, up nearly 16 times from a year earlier, show data from the Securities and Exchange Board of India.
Dewan Housing Finance Ltd raised a total of Rs 14,000 crore via two NCD issues in August. Its NCD issue of Rs 10,000 crore is the largest by a private-sector enterprise for eight years. Indiabulls Housing Finance Ltd raised Rs 7,000 crore.
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