Millennium Post

India Inc raises Rs 67,200 cr via QIP in FY18

New Delhi: Indian firms mobilised Rs 67,200 crore by issuing shares to institutional investors during 2017-18, registering nearly eight-fold rise over the previous fiscal.

The firms had mopped up Rs 8,464 crore in 2016-17.

As per the latest data available with the Securities and Exchange Board of India (Sebi), the capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 67,257 crore in FY18.

During 2017-18, June was the busiest month, with the firms raising Rs 15,000 crore, followed by December (Rs 11,037 crore), May (Rs 7,298 crore), October (Rs 7,280 crore), February (Rs 5,604 crore) and September (Rs 5,500 crore).

The funds were 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 the domestic market.

In terms of numbers, 53 issues appeared in the financial year 2017-18 as compared to 20 in the previous fiscal.

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