Indian companies raised over Rs46,000 crore via QIP during April-November 2017
New Delhi: Indian firms mobilised over Rs46,000 crore by issuing shares to institutional investors during the April-November period of the current fiscal, nearly 11-fold rise from the year-ago period.
In comparison, they had mopped-up Rs4,318 crore in the first eight months of 2016-17 fiscal. As per the latest data available with the Securities and Exchange Board of India (Sebi), the capital garnered by the listed companies through the qualified institutional placement (QIP) route stood at Rs46,675 crore in the first eight months of 2017-18.
It was also more than five times the total amount raised in the entire 2016-17 which stood at Rs8,464 crore. 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 domestic market. In terms of numbers, 29 issues were witnessed in April- November as compared to 12 in the similar period a year ago.
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