Advertisement
trendingNowenglish1832880https://zeenews.india.com/business/news/finance/fund-mop-up-via-qips-slump-41-to-rs-12658-cr-in-apr-oct_1832880.html

Fund mop-up via QIPs slump 41% to Rs 12,658 cr in Apr-Oct

Fund raising by listed companies through qualified institutional placement (QIP) route plunged 41 percent to Rs 12,658 crore in the first seven months of the ongoing fiscal.

 

Fund mop-up via QIPs slump 41% to Rs 12,658 cr in Apr-Oct

New Delhi: Fund raising by listed companies through qualified institutional placement (QIP) route plunged 41 percent to Rs 12,658 crore in the first seven months of the ongoing fiscal.

The funds have been raised for expansion, refinancing of debt and to meet working capital requirements.

According to the data available with the Securities and Exchange Board of India (Sebi), Indian firms garnered Rs 12,658 crore via QIP route during April-October 2015-16, lower than Rs 21,402 crore mopped-up in the same period of 2014-15.

In terms of numbers, 18 issues were floated during the period under review compared with 30 in April-October period of the last fiscal.

In the entire 2014-15, a total of Rs 29,102 crore was raised through 51 issues.

Experts attributed the slump in fund raising through QIP route to volatile equity markets.

QIP is an alternative mode of resource raising available for listed companies to raise funds from domestic market.

In a QIP, a listed entity issues equity shares, fully and partly convertible debentures, or other securities that are convertible to equity shares to institutional investors.

Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.

NEWS ON ONE CLICK