India Inc raises Rs 21,000 cr via QIP in Dec qtr

Indian firms mobilised Rs 21,000 crore by issuing shares to institutional investors during the December quarter of the current fiscal, resulting into an over 13-fold rise from the year-ago period.
The firms had mopped up Rs 1,576 crore in the same period of the previous 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 21,058 crore in the December quarter of 2017-18.
It was also more than two 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, 21 issues were witnessed in the December quarter of the current fiscal as compared to five in the corresponding period last fiscal.