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.