India Inc mobilises US$ 991.4 million during April-May 2009
IBEF: June 11, 2009
New Delhi: India Inc has mobilised US$ 991.4 million during April-May 2009 due to revival in market
sentiments, according to a report by the brokerage firm, SMC Capitals. The report also stated that this
capital raising activity is set to gain further momentum.
Fund raising through various instruments like rights issues, initial public offers (IPOs) and qualified
institutional placements (QIPs) during the first two months of 2009-10 rose by over five-fold to US$ 991.4
million than the first two months of 2008-09.
\"This massive fund raising can be attributed to the revival in the QIP market, which was the major source
for fund mobilisation. Going forward, the fund raising spree is likely to be robust as lot many IPOs are
waiting in the pipeline,\" said Jagannadham Thunuguntla, head of SMC Capital equity.