Mumbai, July 10 -- Indian companies raised over '2 trillion by selling rupee bonds in the quarter ended 30 June, up from '1.3 trillion a year ago, as they tried to insulate their balance sheets from uncertainties related to the coronavirus pandemic.
Bond sales were the highest in April and May, when companies raised '1.47 trillion, followed by '51,091 crore in June, according to JM Financial Ltd, which compiled the data.
Many top-rated firms raised funds under the Reserve Bank of India's Targeted Long Term Repo Operations (TLTRO), particularly in April. Typically, the first quarter of the fiscal is a lean one for bond sales.
"The quarter was different due to ample liquidity. We saw a healthy level of activity in the corporate bonds marke...