Profits, credit lift fundraising by corporates

Corporate fundraising activity saw a significant revival in the September 2025 quarter.

- Niti Kiran & Abhinaba Saha

After a sluggish June quarter, which saw an 8.4% year-on-year decline, non-financial enterprises ramped up fundraising between July and September. According to data compiled by the Centre for Monitoring Indian Economy (CMIE), this period saw growth of 58.1%—the fastest pace since June 2023. Total funds raised during the quarter was estimated at ₹7.5 trillion, up from ₹5.6 trillion in the preceding quarter.

The analysis considered funding sources, including increased outstanding credit from scheduled commercial banks (SCBs) to industrial and service enterprises; net profits of listed non-financial enterprises; issuance of fresh equity and debt securities; net foreign direct investment (FDI); net external commercial borrowings (ECBs); and an increase in outstanding commercial paper (CPs) were also considered.

Ona sequential basis, too, funding jumped 35% against a contraction of nearly 34% in the previous quarter. This stellar performance was especially significant as it shattered a recent pattern.