Fund mop-up via preferential allotment hits 8-month low

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SummaryIn May, funds garnered by companies through preferential allotments were as high of Rs 11,878 crore.

Fund-raising by issuance of shares to promoters and shareholders on preferential basis has hit an 8 month low of Rs 1,062 crore in August amid volatile market conditions.

According to the latest data available with market regulator Securities and Exchange Board of India (Sebi), funds garnered by companies through preferential allotments declined to Rs 1,062 crore in August from Rs 1,605 crore in the preceding month.

In May, funds garnered by companies through preferential allotments were as high of Rs 11,878 crore.

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