

Corporate funding rebounds in Sep quarter, driven by higher profits and bank credit
Subscribe to enjoy similar stories. Corporate fundraising activity saw a significant revival in the September 2025 quarter. 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 various funding sources, including: On a 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. The July-September period has typically been a drag, lacking momentum both yearly and sequentially over the last two years for which the data was available. All eyes are on the next quarter to see if this momentum can be sustained.
Divam Sharma, co-founder and fund manager at Green Portfolio PMS, said domestic macro indicators continued to hold firm, which lifted the confidence of both issuers and investors. Visibility around consumption and broader economic activity also stayed healthy, he said. “This created a more enabling environment across multiple sectors, leading to a recovery that was fairly broad-based after a softer June quarter." Net profits remained elevated and continued to be the top source of funding in the September quarter.
Non-financial companies recorded a massive ₹3 trillion in net profits, which accounted for nearly 40% of all funds raised. Profits rose 54.5% year-on-year, marking the strongest growth in four years. “The rise
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