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India Inc raises Rs 44,000 cr via QIP in Apr-Oct

Press Trust of India  |  New Delhi 

Indian firms mobilised nearly Rs 44,000 crore by issuing to institutional investors during the April-October period of the current fiscal, over 10-fold rise from the year-ago period.

In comparison, they had mopped-up Rs 4,318 crore in the first seven month of the 2016-17 fiscal.

As per the latest data available with the Securities and Exchange Board of India, the capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 43,934 crore in the first seven months of 2017-18.

It was also more than five times the total amount raised in the entire 2016-17 -- Rs 8,464 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, 22 issues were witnessed in the April-October period as compared to 12 a year ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 06 2017. 17:35 IST