JOIN USFundraising by issuance of shares to promoters and shareholders on preferential basis has jumped four-fold to nearly 12,000 crore in the month of April.
According to the data available with market regulator Sebi, companies raised Rs 11,844 crore through preferential allotments in April as compared to Rs 2,998 crore in March.
However, the number of preferential issues fell to 37 in April from 38 in the preceding month.
"There were 37 preferential allotments (Rs 11,844 crore) listed at BSE and NSE during April 2013 as compared to 38 preferential allotments (Rs 2,998 crore) in March 2013," Sebi said.
In the entire financial year 2012-13, companies have raked in around Rs 47,000 crore, marking a sharp rise from Rs 25,709 crore garnered through preferential allotments to the promoters as well as shareholders in the past fiscal.
In 2010-11, companies had collected Rs 30,511 crore through preferential allotments.