In comparison, companies had garnered Rs 9,713 crore in 2014-15.
Most of the funds were mobilised for expansion to support working capital requirements and other general corporate purposes.
NCDs are loan-linked bonds that cannot be converted into stock and usually offer higher interest rates than convertible debentures.
As per latest data with Securities and Exchange Board of India (Sebi), firms raised a total of Rs 33,812 crore through NCDs last fiscal.
In terms of numbers, 20 issuances have taken the NCD route last fiscal compared with 25 in the preceding fiscal. Some companies have raised funds twice during 2015-16.
Experts said volatile market conditions have forced many companies to opt for NCD route to garner fresh capital.
Meanwhile, benchmark BSE Sensex plunged 9.35 per cent during the period under review.
Individually, National Highways Authority of India (NHAI) raised Rs 10,000 crore through first tranche against the base size of Rs 1,000 crore, it further mobilised Rs 3,300 crore via second tranche. This was mopped-up against the target of Rs 500 crore.
Indian Railway Finance Corporation raised Rs 4,532 crore and Rs 2,450 crore in December and March, respectively, while Housing and Urban Development Corporation (HUDCO) garnered about Rs 1,788 crore and Rs 1,711 crore in March and February respectively.
National Bank for Agriculture and Rural Development (NABARD) mobilised Rs 3,500 crore and Indian Renewable Energy Development Agency raked in Rs 1,716 crore.
Further, NTPC, Rural Electrification Corporation, Power Finance Corporation, Muthoot Finance, SREI Equipment Finance, SREI Infrastructure Finance, Muthoottu Mini Financiers, Muthoot Fincorp and Kosamattam Finance also have taken this route to garner funds.