QIP India

Some investment bankers argued that the reason for tepid fundraising through QIPs and rights could also be due to the fact that companies this year were not in need of large capital

Disclosures around utilisation of issue proceeds not as exhaustive as IPOs: Rating agencies

The private sector lender said that its annual general meeting (AGM) is scheduled to be held on August 18, 2022, and it will seek shareholders approval for the capital raise plan

The Mumbai-based firm on March 7 had launched its QIP (Qualified Institutional Placement) issue and closed it on April 12

QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities, other than warrants that are convertible into equity shares

Firm's unit economics remain strong amid competitive intensity

Their strategy is currently contrarian to the market, where developers are cutting on launches and preferring to clear existing stock, to generate cash and repay dues.

The private lender has said that the board will meet again on September 25 to approve QIP issue to investors

QIP is an alternative mode of resource mobilisation available for listed companies to raise funds from the domestic market