Fund mobilizing via QIP fell 85 pc to Rs 4,100 cr in Q1 FY19
This is 85.49 percent less than the amount raised by the companies in the corresponding quarter of the previous fiscal.
Funds mobilized by Indian firms through the issuance of shares to institutional investors tumbled by a whopping 85 percent to nearly Rs 4,100 crore during the first quarter of the current fiscal in comparison to the year-ago period.
According to the data available with the Securities and Exchange Board of India, the capital garnered by the listed companies through qualified institutional placement (QIP) route stood at Rs 4,070 crore during the June quarter of the financial year 2018-19.
The funds were mobilized 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 mobilize funds from the domestic market.
Also, there were 9 issues during the first quarter of 2018-19 compared to 8 in the corresponding period of the previous fiscal.
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