Fund-raising by Indian companies through private placement of debt securities or bonds plunged to `12,182 crore in July -- the lowest level in nearly five years.
According to the data available with the market regulator Securities and Exchange Board of India (Sebi), Indian firms garnered total `12,182 crore from debt on a private placement basis route through 141 issues.
This was the lowest amount raised by companies through private placement of debt securities since October 2008 when they had mopped up ` 8,769 crore.
Fund raising slumped in July because of weak market sentiment and slowdown in economy, experts said. At the same time, the rate of interest was also on the higher side, which is impacting companies capital mop-up plans, they added.