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Fundraising through QIP shines, companies garner Rs 50,200 cr in 2023
Fundraising through the issuance of shares to institutional investors skyrocketed, as companies raked in Rs 50,218 crore in 2023, marking a six-fold surge from the previous year and indicating a positive outlook among investors.
Apart from QIPs, fund mobilisation through rights issue of shares and OFS (Offer-for-Sale) route too surged in 2023, as compared to last year.
Market experts attributed the primary reason for the increase in Qualified Institutional Placement (QIP) fundraising to the market and investor sentiments that play an important role in their success.
As long as positive market vibes persist, and investors continue to reap returns, listed companies lean towards opting for fundraising through QIP as this avenue ensures swift access to funds, they added.
According to data by the National Stock Exchange (NSE), companies collected Rs 50,218 crore through QIPs in 2023, which was way higher than Rs 8,196 crore raised in the preceding year.
Bajaj Finance Ltd spearheaded th