Indian firms mopped up as much as Rs. 8900 crore this third week January, through private placement as compared to Rs 4,200 crore last week, as per data by Bloomberg. Power Finance Corpn Ltd. was the biggest borrower, followed by IDBI Bank Ltd. and HDFC Ltd. IDBI Bank has mopped up Rs 1,000 crore through private placement of Basel-III compliant bonds.
IDBI will use the funds raised to reinforce its capital adequacy. Analysts are of view that a decelerate in fund raising activity next week as investors await more cues from the forthcoming Budget on February 1, and the RBI’s monetary policy on February 7.
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