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Article: India : Corporate India set to raise Rs 68000 cr through qips.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
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Byline: Mamta03
Aluminium producer Hindalco, oil drilling firm Aban Offshore and Tech Mahindra, which bought the scandal-hit Satyam Computer, will lead a record fund raising by Indian companies through share sales to institutional investors in the next few months as they attempt to pare down debt accumulated during their takeovers.
Indian companies have approvals from shareholders to raise as much as Rs 68,000 crore by selling shares to institutional investors under the so-called qualified institutional placement route, a SundayET analysis based on data from SMC Capitals shows. This is in addition to around Rs 26,000 cr that has been raised by companies ...