These 6 companies garner over Rs 19,000 crore via NCDs in FY17
A total of six companies have garnered Rs 19,116.43 crore in the first five months of this fiscal year from the issue of Non-convertible Debentures (NCDs).
All companies that issued NCDs in this period have reported a profit.
In the last fiscal year, 18 companies had raised a total of Rs 33,811.92 crore as against the previous year that garnered Rs 9,713.43 crore from 21 companies.
NCDs are loan-linked bonds that cannot be converted into stock and usually offer higher interest rates than convertible debentures.
Dewan Housing Finance Corporation Limited (DHFL) has received the highest amount of subscriptions of Rs 12,717.05 crore during August 29 to September 12 and Rs 4,000 crore from August 3 to August 4.
Mahindra & Mahindra Financial Services raised Rs 1,000 crore as against a base size of Rs 250 crore.
Muthoot Finance raised Rs 500 crore as against the company’s target of Rs 250 crore, Kosamattam Finance raised Rs 235 crore against a target of Rs 125 crore. Edelweiss Housing Finance raised Rs 500 crore as against the company's target of Rs 250 crore.
Shakthi Finance raked in Rs 165 crore compared with the base size of Rs 100 crore.