INSUBCONTINENT EXCLUSIVE:
New Delhi: Funds raised by Indian firms by issuing shares to institutional investors plunged by a massive 86.56 per cent to nearly Rs 4,070
crore in the first four months of the current fiscal.
During April-July of 2017-18, the firms had mobilised Rs 30,279 crore.
As per the data
available with the Securities and Exchange Board of India, the capital mopped up by the listed firms through qualified institutional
placement (QIP) route stood at Rs 4,070 crore during April-July of 2018-19.
The funds were 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 mobilise funds from the domestic market.
In April 2018, the firms garnered Rs 1,862 crore, while the amount mopped up by them
in May and June 2018 stood at Rs 1,008 crore and Rs 1,200 crore, respectively
No funds were raised during July 2018.
Also, there were 9 issues during April-July of 2018-19 compared to 12 in the corresponding period
last fiscal.
Through the QIP route, during 2017-18, the firms raised Rs 67,257 crore via 53 issues
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