Public debt issues mobilisation up 150% to Rs 42383 crore: Prime Database

New Delhi, May 13, 2014

The fiscal 2013-14 witnessed a mobilisation through public debt issues of Rs.42,383 crore, up 150 per cent oer the Rs 16,982 crore mobilised in the previous financial year, Prime Database said.
The amount was mobilised by 20 institutions and corporates, according to Prime, which operates the country's premier and only database on primary capital market.
The increase in mobilisation in 2013-14 was mainly on account of tax-free bond raisings (86 per cent of total amount) by financial institutions and public sector undertakings (PSUs), Mr Pranav Haldea, Managing Director of Prime, said.
According to Prime, the biggest mobilisation in the fiscal was again made by the category of All-India Financial Institutions/Banks at Rs. 29,700 crore. This was in comparison to Rs. 14,570 crore in the previous year, representing an increase of 104 per cent. 
Mr Haldea said mobilisation by the private sector also witnessed an increase; it went up by 165 per cent to Rs. 5,869 crore compared to Rs 2,217 crore in the previous year. Mobilisation by PSUs also was significantly higher at Rs. 6,814 crore compared to just Rs. 195 crore in the previous year.
Government organisations and financial institutions, put together, mobilised 86 per cent of the total amount, almost the same as 87 per cent in the previous year. 
Among government organisations, All-India Financial Institutions/Banks had a 83 per cent share with PSUs at 17 per cent.
The highest mobilisation through public debt issues during the period was by IIFCL (Rs. 6,878 crore), followed by IRFC (Rs. 5,828 crore), HUDCO (Rs. 4,796 crore) and REC (Rs. 4,500 crore).
According to Mr.Haldea, on an industry-wise basis, the Financial Services sector continued to dominate the market, collectively raising Rs. 30,773 crore or 73 per cent of the total amount. Real Estate ranked second with an 11 per cent share (Rs. 4,796 crore).
The report said 14 of the 35 issues, representing 74 per cent of the issue amount, were AAA rated. 
Fiscal 2014-15 has seen 3 issues worth a tentative amount of Rs.425 crore till date, it added.

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