Diabytes
Qualified Institutional Placements News
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QIPs are a way for listed companies to raise capital without having to submit legal paperwork to market regulators.
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The board has approved raising up to Rs 6,000 crore including premium by way of Qualified Institutional Placements (QIP) or rights issue or preferential allotment or any other approved means during 2019-20 subject to market conditions and necessary approvals, Canara Bank said in a regulatory filing.
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This is lower compared to the quantum of funds mobilised via equity market at Rs 45,440 crore in 2013.
Board of India Cements has approved a proposal to raise Rs 500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure needs, a top official said on Friday.
Of the total fund raised, a massive Rs 20,171 crore were raked in through QIPs and remaining Rs 418 crore via IPPs.
Indian companies have mopped-up close to Rs 17,000 crore through institutional placement in the first four months of the 2014-15 fiscal, primarily to support working capital needs.
Indian companies mopped-up a staggering Rs 12,151 crore through issue of shares to institutional investors in April-June period of 2014.
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