Companies raise Rs2,211 crore from institutional investors in August
08 Oct 2012
Indian companies raised an estimated Rs2,211 crore through private placement of shares with qualified institutional investors (QIPs) in August 2012 - the highest monthly figure during the current financial year.
The August 2012 figure is more than the Rs2,163 crore raised in the entire previous fiscal (2011-12) and just below 50 per cent of the cumulative amount of Rs4,651.5 crore raised through the QIP route during the first five months of the 2012-13 financial year.
"During August 2012, listed issuers raised Rs2,210.7 crore through 12 QIP issues (all of which were on account of conversion of warrants issued on QIP basis into equity), latest data release by market regulator SEBI showed.
Against this, Indian companies raised Rs1,898 crore through 8 issues in July 2012.
For the fiscal so far, three listed companies raised a total of Rs517.6 crore in June, two firms mopped up Rs60 lakh in May and two issues in April raised Rs24.7 crore, as per SEBI data.
This shows a revival of capital raising through QIPs, which had earlier slowed down due to volatile markets globally.
A listed company may tap a QIP through offers of equity shares, fully and partly convertible debentures, or other securities that are convertible to equity shares.
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