Fund raising via QIP hits eight-year high; banks lead
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Fund raising via the qualified institutional placement (QIP) route hit an eight-year high, with more than a dozen companies already raising around Rs 34,000 crore in first six months of the current calendar year 2017 (H1CY17).Thus far in CY17, 14 companies haFund raising via QIP hits eight-year high; banks lead
Fund raising via the qualified institutional placement (QIP) route hit an eight-year high, with more than a dozen companies already raising around Rs 34,000 crore in first six months of the current calendar year 2017 (H1CY17).Thus far in CY17, 14 companies have collectively mobilised Rs 33,907 crore from investors - the highest amount in the past eight years. Earlier during the entire CY09, as many as 53 companies had raised Rs 34,676 crore via QIP. In CY14, total 33 companies mobilised Rs 31,684 crore, according to PRIME Database."The bull run has fuelled a money raising frenzy among corporates, who are making use of the market condition to raise funds for future growth. Besides, the rally has ensured that the cost of raising funds / equity is reduced considerably. Promoters, on their part, are making full use of this opportunity," says G Chokkalingam, founder and managing director of Equinomics Research & Advisory.The total amount raised through QIPs in CY17 represents a 64-fold Read more