According to Jagannadham Thunuguntla, on an average Indian corporte have raised only 48.63% of the qualified institutional placement (QIP) amount for which they had taken approval in their Board of Directors / Shareholders resolution.

1. Only half of proposed QIP amount been raised: SMC Cap
Published on Tue, Oct 06, 2009 at 15:00 , Updated at Tue, Oct 06, 2009 at 15:10
Source : Moneycontrol.com
According to SMC Capitals' report, on an average Indian corporte have raised only 48.63% of the
qualified institutional placement (QIP) amount for which they had taken approval in their Board of
Directors / Shareholders resolution.
"During the period starting March 2009, the Indian corporate has raised about Rs. 21,377 Crores through
29 QIP issuances. Despite the fact that Indian corporte is quite aggressive in QIP fund raising in the past 6
months, on an average they have raised only 48.63% of the amount for which they have taken approval in
their Board of Directors / Shareholders resolution. Some of the prominent companies who have raised
much smaller sized QIPs in comparison to the proposed amounts as per their Board of Directors or
Shareholders resolution are Parsvnath (6.72%), GVK Power (23.90%), REI Agro (25.01%), Educomp
(28.32%), Orbit Corp (29.01%), Lanco Infratech (29.09%), HCC (32.01%), Glenmark Pharma (34.31%),
Sobha Developers (35.13%), Punj Lloyd (44.68%), Webel-SL Energy (45.40%), Axis Bank (46.44%),
Bajaj Hindustan (48.21%), PSL (49.77%)," says SMC Capitals' report.