Published on 26/03/2018 9:31:06 AM | Source: Dion Global Solutions Ltd

Indian cos raise over Rs 580 bn via QIP during Apr-Jan: Sebi

Posted in Economy News| #Economy #SEBI

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Indian firms mobilised more than Rs 580 billion by issuing shares to institutional investors during April-January of the current fiscal, over 12-fold rise from the year-ago period. In comparison, they had mopped-up Rs 46.64 billion in the corresponding period of 2016-17 fiscal. As per the latest data available with the Securities and Exchange Board of India, the capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 585.2 billion in the first 10 months of 2017-18.

It was also nearly seven times the total amount raised in the entire 2016-17 which stood at Rs 84.64 billion. The funds have been mobilised for business expansion, refinancing of debt, working capital requirements and other general corporate purposes. QIP is an alternative mode of resource raising available for listed companies to raise funds from the domestic market. In terms of numbers, 41 issues were witnessed during the April-January period of the current fiscal as compared to 16 in the similar duration a year ago.