Financial services firms may raise record Rs 1.2 trn via QIPs this year

Public sector banks are leading the race to raise money through QIPs

A clutch of financial services firms and companies involved in capital-intensive businesses are lining up for qualified institutional placements (QIPs) to shore up capital and retire debt.

In the past few months, 45 companies have signalled their intent to raise money through the institutional placement route. If the market does not play a spoilsport, they may be able to raise between Rs 80,000 crore and Rs 1.2 trillion this financial year, the data collated from Prime Database shows. In 2018-19, listed companies had raised only Rs 10,500 crore through QIPs.

Financial services firms, mostly banks, may dominate the fundraising, cornering