New Delhi, July 18 || Qualified institutional placements (QIPs) witnessed a resilient growth in July so far, led by State Bank of India's (SBI) recent fundraise, taking the total QIP fundraising to a five-year high of over Rs 30,000 crore.
QIPs are a way for listed companies to raise capital without having to submit legal paperwork to market regulators.
Ten issuances have offered over Rs 30,470 crore so far this month. It is the biggest monthly performance of QIPs since September 2020, when companies had collectively raised over Rs 39,000 crore.
Driving this surge was the State Bank of India’s (SBI) historic QIP on July 17, which mobilised over Rs 20,000 crore. The offering drew robust investor interest, with demand reportedly outstripping supply by nearly four times.
According to multiple reports, the SBI QIP has received significant interest from global and domestic investors worth around Rs 1 lakh crore.
July also saw a flurry of other notable QIP deals. CG Power raised over Rs 3,000 crore, while Marathon Nextgen and Navin Fluorine collected Rs 900 crore and Rs 750 crore, respectively.
Several other mid- and small-cap firms also tapped into institutional funding during the month.