In December month alone, as many as 10 companies including banks have come up with a QIP or qualified institutional placement issue to tap funds. This is the highest number of QIP issue launched in seven year's time.
As many as 8 companies including PNB, Union Bank of India, M&M Financial Services and Natco Pharma have this month raised Rs. 11,037 crore through qualified institutional placement.
The proceeds from the issue are likely to be used most towards repayment or pre-payment of debt and capital expenditure.
Know what is QIP here.
After slowdown in QIPs for two continuous years, revival is witnessed with a total mopped up capital of Rs. 56,800 crore through 41 QIPs in the calendar year 2017.