Millennium Post

Firms raise over Rs 2 cr through sale of shares

Firms raise over Rs 2 cr through sale of shares
Fund-raising by Indian companies through issue of shares to institutional investors is gathering pace, rising to Rs 2,211 crore in August – highest in a month during the current fiscal.

Thus, the cumulative amount mobilised through the Qualified Institutional Placement [QIP] route during 2012-13 so far has reached Rs 4,651.5 crore, more than double the amount of Rs 2,163 crore garnered in the entire previous fiscal [2011-12].

'During August 2012, listed issuers raised Rs 2,210.7 crore through 12 QIP issues [all of which were on account of conversion of warrants issued on QIP basis into equity], according to latest data available with the market regulator SEBI [Securities and Exchange Board of India].

This was 16 per cent higher than Rs 1,898 crore garnered through 8 issues in July.

QIP is a capital raising tool, whereby a listed company can issue equity shares, fully and partly convertible debentures, or other securities that are convertible to equity shares to institutional investors.    
PTI

PTI

Our contributor helps bringing the latest updates to you


Share it
Top