State-owned Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. “With…
Adani Enterprises has successfully completed the qualified institutional placement (QIP), raising nearly Rs 4200 crore. The company has allocated 1.41 crore shares at an issue price of Rs 2,962 apiece. The transaction was launched post-market hours on October 9 with a deal size of Rs 4,200 crores ($500 million) and closed on October 15. “The…
State-owned Punjab National Bank (PNB) on Monday launched a qualified institutional placement (QIP) to raise up to Rs 5,000 crore at an indicative price of Rs 103.75 per share. According to bankers, the base deal size is Rs 2,500 crore, with the potential to be upsized to Rs 5,000 crore depending on demand. The bank…
Budget carrier SpiceJet, which opened its qualified institutional placement (QIP), received strong investor response, with marquee investors including the family office of Madhu Kela subscribing to the issue, according to sources. The company planned to raise around Rs 3,000 crore through the QIP, but the offers received exceeded the amount, highlighting confidence in the airline’s…