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Fund raising through the qualified institutional placement (QIP) seems to be gaining traction among Indian firms, with total mopped-up via this route crossing the Rs 26,000 crore mark this year.
Indian companies have raised a total of Rs 26,354 crore in the first eight months of the year, more than double the amount garnered in the entire 2013, shows data compiled by the Securities and Exchange Board of India (Sebi).
During January-August, funds were garnered through as many as 21 QIP issuance.
According to sector estimates, the total funds raised this year could cross Rs 30,000 crore.
Market experts said the return of investor confidence in the equity markets has encouraged some of the large firms to mop funds through QIP route.
Interestingly, most of the funds were raked in through QIP issuances after the election verdict was announced in May, showcasing revival of investor sentiment, backed by a strong secondary market, experts say.
Among the firms which garnered funds via QIP were State Bank of India, YES Bank, Idea Cellular and Reliance Communications.
The fund raising was in line with the BSE's benchmark Sensex gaining around 24 per cent so far this year.
