India Inc raises Rs 36k cr via QIP in H1

NEW DELHI: Indian companies mopped up over Rs 36,000 crore by issuing shares to institutional investors during the April-September 2017 period — a 13-fold jump compared with the year-ago period.
According to the latest data available with the Securities and Exchange Board of India, capital garnered by the listed companies through the qualified institutional placement (QIP) route stood at Rs 36,653 crore in the first six months of 2017-18.

In comparison, companies had mopped up Rs 2,818 crore during the April-September period of 2016-17.
The capital garnered by the listed companies in the first six months of 2017-18 is four times the total amount raised in the entire 2016-17, which stood at 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, 16 issues were witnessed in the first six months of the current fiscal as compared to 9 during the same period of the previous financial year.