Indian corporates are likely to raise double the amount of funds through the public issue of bonds in the second half of this fiscal than they did in the first, as tighter systemic liquidity and lower fixed deposit rates make these instruments attractive, analysts said.
"There is a vast pipeline of companies waiting to tap the public issue route and we may see them raising around 60 billion Indian rupees over the next four to five months," said Ajay Manglunia, managing director and head of Investment Grade Group at JM Financial.
Indian companies raised around 33 billion rupees between April and September, which merchant bankers expect will more than double in October-March to take the overall issuances above 100 billion rupees for the fiscal."With the tightening systemic liquidity situation, some companies are not able to get larger quantum through private placement, but get easy funding through the public issue route," Manglunia said.
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