NEW DELHI, Mar 17: Indian companies have raised over Rs 14,000 crore through Qualified Institutional Placement (QIP) route in the first ten months of the ongoing fiscal.
In comparison, the listed firms had raised Rs 29,102 crore through QIP in the entire last fiscal.
The funds have been raised for expansion, refinancing of debt and to meet working capital requirements.
According to a data available with the Securities and Exchange Board of India (Sebi), listed companies have garnered Rs 14,438 crore through QIP route during the April-January period of 2015-2016.
Market experts attributed the slump in fund-raising through QIP route to volatile equity markets.
In terms of numbers, 23 issues were witnessed during the period under review as compared to 51 issues in the entire last fiscal.
The highest amount raised so far in the current fiscal was in July (Rs 4,824 crore) followed by September (Rs 4,338 crore), June (Rs 1,507 crore) and December (Rs 1,288 crore).
QIP is an alternative mode for listed companies to raise funds from domestic market.
In a QIP, a listed entity issues equity shares, fully and partly convertible debentures, or other securities that are convertible to equity shares to institutional investors. (PTI)
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