QIPs Hit An Eight-Year High

A stock market rally and rising domestic flows have not just fuelled a rush for initial public offerings. Share sales by listed companies to large institutional investors have also hit an eight-year high.

The qualified institutional placement by Intreglobe Aviation Ltd., parent of budget carrier IndiGo Airlines, has taken the total mop-up through QIPs to more than Rs 29,000 crore for the year, according to capital markets data gatherer Prime Database. So far, companies have launched 12 such issues.

The last time a higher amount was raised was in the year to March 2010: Rs 39,700 crore in 67 such issues.

Are Indian companies on track to break that record?