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Cos raise Rs. 118.44 bn via preferential share issues in April

Companies raised around Rs. 470 billion through preferential allotments to the promoters and shareholders in FY13

June 11, 2013 3:29 IST | India Infoline News Service
Indian companies raised Rs. 118.44 billion through preferential allotments in April as compared to Rs. 29.98 billion in March, according to SEBI (Securities and Exchange Board of India) data.

There were 37 preferential allotments (Rs. 118.44 billion) listed at BSE and NSE during April 2013 as compared to 38 preferential allotments (Rs. 29.98 billion) in March 2013.

During the period under review, the BSE's benchmark Sensex rose by 3.5% during April.

Preferential allotment is a way of infusing fresh equity in the business by issuing shares to the specified entities at specific prices to a promoter or promoter group or a person acting in concert (PAC) or institutional players. And this could be a strong tool that investors can use to identify investing opportunities.

In the entire financial year 2012-13, companies raised around Rs. 470 billion through preferential allotments to the promoters and shareholders against Rs. 257.09 billion in the past fiscal.

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