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Thursday, March 4, 1999
Debt issues raise Rs 26,719 cr
PRESS TRUST OF INDIA
MUMBAI, March 3: The Indian capital market has become debt-dominated with institutions and corporates raising Rs 26,719 crore in the first nine months of this fiscal, a six per cent growth, says a report by Prime Database. Almost the entire public issue mobilisation has been through debt offerings. During 1995-98, debt mobilisations amounted to Rs 10,035 crore, Rs 18,391 crore and Rs 30,983 crore respectively. The highest mobilisation through debt private placement was by IDBI, which mobilised Rs 5446 crore. Other institutions which mobilised a major chunk during the period was IFCI (Rs 2848 crore), ICICI (Rs 2677 crore), MKVDC (Rs 760 crore), Reliance Industries (Rs 675 crore), HUDCO (Rs 648 crore), KBJNL (Rs 615 crore), Sail (Rs 570 crore), APSEB (Rs 519 crore), MJP (Rs 513 crore) and Rs 500 crore each by MSEB, IDFC, Exim Bank and Reliance Telecom. Government organisations and development financial institutions continued to dominate the debt offerings constituting 81 per cent of the total amountmobilised, an increase from 75 per cent share during the previous fiscal. Government organisations and DFIs, however, had a 90 per cent mobilisation share during 1997-98, Prime pointed out. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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