| The drive to mobilise funds through the qualified institutional placements (QIPs) route has begun well, with 17 firms having raised Rs 3,827 crore in the last six months and plans by three more to augment Rs 718 crore.
|
| |
| Sebi guidelines announced in June permitted listed companies to raise funds by placing shares with qualified institutional buyers, such as foreign institutional investors (FIIs), domestic financial institutions and mutual funds. The guidelines were aimed at discouraging companies from going abroad for equity issuances.
|
| |
| The realty and infrastructure firms were among the first to avail of this opportunity. Ansal Properties and Infrastructures (Rs 682 crore), IVRCL Infrastructures (Rs 555 crore) and Mahindra Gesco Developers (Rs 480 crore) collectively raised Rs 1,717 crore through QIPs.
|
| |
| Of the 17 firms, 13 have raised more than Rs 100 crore each through the QIP route. The 4 remaining firms collected between Rs 36 crore and Rs 100 crore via this route.
|
| |
| The list of 17 includes companies that mobilised funds through public offers in the last two years. AIA Engineering raised Rs 121.50 crore by issuing one million equity shares at a price of Rs 1,215 per share to QIPs. The company had mobilised Rs 148 crore via public issue in November 2005.
|
| |
| Among the existing firms, Kalpataru Power mobilised Rs 347 crore by issuing 4.77 million shares at a price of Rs 727 per share and Pantaloon Retail collected Rs 260 crore after issuing 6.26 million shares at Rs 415 to QIPs.
|
| |
| Marico, the FMCG company has allotted 2.90 million shares at Rs 522 to QIBs. The company has raised Rs 151 crore via this route. TV-18 has allotted 3.08 million equity shares at a price of Rs 650 per share aggregating to Rs 200 crore.
|
| |
| The firms that have proposed to collectively mobilise Rs 718 crore via QIP route are Bombay Rayon Fashions (Rs 294 crore), Deccan Chronicle (Rs 224 crore), Peninsula Land (Rs 156 crore) and PSL. |
| |
|
| |
Content Guide
