qualified institutional placement

Despite volatile market conditions, fundraising by companies through the QIP (qualified institutional placement) route has been fairly robust this year.

Companies that have class A shares or shares that carry differential voting rights can go for a bonus or rights issue on terms similar to its existing listed class A shares.

Despite the negative outlook on banks by rating agencies, IndusInd Bank has raised Rs 2,000 crore through a qualified institutional placement — the largest offering by any bank this year. The bank has managed to raise funds by selling shares at Rs 384, which is a 3% premium of the floor price.

Prestige Estates Projects has closed the issue of its qualified institutional placement (QIP) mopping up close to Rs 615 crore.

The board of City Union bank has sought to enhance the limit of foreign institutional investors (FIIs) from 35% to 40% subject to statutory approvals.

The board of Equitas Small Finance Bank on Friday approved a QIP (qualified institutional placement) issue at the price of ₹53.59 per equity share. This includes a premium of Rs 43.59 per share and the issue price also takes into account a discount of 4.98% to the floor price of Rs 56.

At a point of time when others traditional way of funds seems raising drying up, India Inc has raised over $2 billion or Rs 12,354 crore by way of qualified institutional placement during the first eight months of 2013 despite volatile market conditions.

The finance ministry is likely to allow State Bank of India to raise around Rs 8,000 crore of equity capital either through a qualified institutional placement (QIP) or a follow-on issue.

Yes Bank’s board on Wednesday approved a proposal to raise $500mn through a Qualified Institutions Placement (QIP) issue which would dilute the promoter holding in the bank by nearly 20%.

State Bank of India reported a 35% drop in net profit for the quarter ended September 2013 — the sharpest fall in earnings in two years — with the bank’s new chairman Arundhati Bhattacharya warning that the worst was not over.

State-owned Allahabad Bank has registered a growth of 7 per cent in the last financial year.

Andhra Bank is planning to raise Rs 800 crore during FY 15 to fund its growth plans.

Life Insurance Corporation of India has increased its stake in Bank of Maharashtra from 4.05% to 7.10% following a qualified institutional placement. This move, compliant with SEBI regulations, signifies LIC's confidence in the bank's growth potential and provides vital capital for its expansion.

The market for initial public offers (IPOs) may not have revved up yet, but companies are raking in the moolah through institutional placements.

SpiceJet has settled all its GST dues after successfully raising INR 3000 crore through a qualified institutional placement. The airline also resolved a dispute with Engine Lease Finance Corporation and cleared all pending salary dues of employees, showcasing its dedication to financial discipline and regulatory compliance.

State-run United Bank of India, which posted a loss of Rs 489 crore in the second quarter of this fiscal and is saddled with rising bad loans, has asked the government for an additional Rs 1,000 crore to meet its capitalisation requirements.

Deutsche Securities Mauritius has picked up 9.15% stake in Hyderabad-based microfinance player SKS Microfinance through the recently concluded qualified institutional placement issue.