List of companies lined up for QIP

by khalid on 07/08/2009 · 0 comments

Suddenly there is a rush to tap funds from Domestic Institutional Investors through qualified institutional placements what is commonly known as QIP issues.

As per industry estimates, merchant bankers are pushing through QIP issues aggregating nearly Rs 30,000 crore to 40,000 crore in the next few months of the current financial year .

SEBI approved fund raising through the QIP route in 2006, to help listed companies reduce their dependence on foreign capital. According to the SEBI guidelines, the price of the shares placed with qualified institutional buyers(QIBs) is based on the prices prevailing in the preceding two weeks.

An interesting aspect of the long list rushing for QIP is most are from real estate and construction sectors.

Some prominant among them are :
Opto Circuits
GVK Power
Sobha Developers
Puravankara Projects
Nitn FireProtection Industries
Orbit Corporation
Dewan Housing Finance
Essar Oil
Karnataka Bank
Gammon Infrastructure
JSW Steel
Hindalco
Unitech
Shree Renuka Sugar
R.Com.
Suzlon
GMR
India Bulls Real Estate
Dish Tv
Educom
Adani Power
Mahindra Holidays

Around 80 companies chose this quick method of raising funds from market since Apr. 2009 as the process is hassle-free and does not involve many of the common procedural requirements. The cost of funds raised through this (QIP) process is also less compared to an (IPO) process.

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