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New Delhi: Life Insurance Corporation of India (<keyword id="19903588" type="General" weightage="100" keywordseo="LIC" source="keywords">LIC</keyword>) has increased its stake in <keyword id="19984004" type="General" weightage="20" keywordseo="Bank-of-Maharashtra" source="keywords" meta.keywordsubtype="org" meta.entityname="Bank of Maharashtra" meta.hostid="83" meta.entityid="Bank of Maharashtra">Bank of Maharashtra</keyword>, the company informed the exchange in a filing. In an official statement on Saturday, LIC announced that it has raised its shareholding in the bank from 4.05 per cent to 7.10 per cent following a <keyword id="19984002" type="General" weightage="20" keywordseo="Qualified-Institutional-Placement" source="keywords">Qualified Institutional Placement</keyword> (<keyword id="19984001" type="General" weightage="20" keywordseo="QIP" source="keywords">QIP</keyword>). "..the Life Insurance Corporation of India ("the Corporation") has increased its shareholding in Bank of Maharashtra ("Company") from 4.05 per cent (pre-allotment) to 7.10 per cent (post allotment)" said LIC. The increased shareholding comes after LIC was allotted 25.96 crore equity shares as part of the QIP issued by the Bank of Maharashtra. Prior to this allotment, LIC held a 4.05 per cent stake in the bank. With the new shares, LIC now owns a 7.10 per cent stake, marking a significant rise in its ownership. The allotment was made under the guidelines of Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations. LIC noted that it has complied with the regulatory requirements, including the details stipulated under the SEBI circular issued in July 2023, which governs disclosure obligations for listed entities. A Qualified Institutional Placement is a way for listed companies to raise capital by issuing equity shares to institutional investors, and this transaction indicates LIC's confidence in the growth potential of Bank of Maharashtra. Bank of Maharashtra is one of the public sector banks, and this infusion of capital through QIP will help strengthen its balance sheet and support its expansion plans.

LIC increases stake in Bank of Maharashtra from 4.05 percent to 7.1 percent through QIP

A unit of <keyword id="6437412" type="General" weightage="20" keywordseo="Qatar-Investment-Authority" source="Orion">Qatar Investment Authority</keyword>, <keyword id="119583" type="General" weightage="20" keywordseo="SBI-Mutual-Fund" source="Orion">SBI Mutual Fund</keyword>, and foreign investment funds <keyword id="6354527" type="General" weightage="20" keywordseo="Nomura" source="Orion">Nomura</keyword> and <keyword id="44473" type="General" weightage="20" keywordseo="Citigroup" source="Orion">Citigroup</keyword> were the biggest buyers of shares in <keyword id="19955648" type="General" weightage="100" keywordseo="Adani-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Group" meta.hostid="267" meta.entityid="Adani Group">Adani group</keyword>'s <keyword id="22661797" type="General" weightage="20" keywordseo="power-transmission-unit" source="Orion">power transmission unit</keyword>'s USD <keyword id="22661798" type="General" weightage="20" keywordseo="1-billion-QIP" source="Orion">1 billion QIP</keyword>, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of <keyword id="19964750" type="General" weightage="20" keywordseo="Adani-Energy-Solutions" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Energy Solutions" meta.hostid="267" meta.entityid="Adani Energy Solutions">Adani Energy Solutions</keyword> Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business. Billionaire <keyword id="22623487" type="General" weightage="20" keywordseo="Stanley-Druckenmiller" source="keywords">Stanley Druckenmiller</keyword>'s family office-led investment firms were among the companies that sought shares of AESL in the QIP. AESL in the filing said its board has approved allocation of over 8.57 crore shares to eligible qualified institutional buyers at the issue price of Rs 976 per share, reflecting a discount of Rs 51.11 (4.98 per cent) to the floor price of Rs 1,027. Giving details of allottees who got more than 5 per cent of shares, it said INQ Holdings LLC, a wholly-owned subsidiary of QIA, cornered 15 per cent of the shares sold. Two Mauritius funds of Citigroup bought 8.88 per cent of the shares sold while four SBI funds - SBI Infrastructure Fund, SBI Large &amp; Midcap Fund, SBI Long term Advantage Fund Series IV and SBI Magnum Children's Benefit Fund - together took home 7.93 per cent of the shares. Nomura Singapore Ltd ODI cornered 7.5 per cent of the shares, the filing showed. INQ had in August last year acquired nearly 2.7 per cent in Adani Green Energy Ltd - the renewable energy firm of the conglomerate run by billionaire Gautam Adani. In 2020, it had acquired a stake in Adani Electricity Mumbai Ltd, a subsidiary of AESL. The AESL QIP last week was oversubscribed six times and fetched demand of over Rs 50,000 crore against an issue size of USD 1 billion. <keyword id="22636516" type="General" weightage="20" keywordseo="Duquesne-Family-Office" source="keywords" meta.keywordsubtype="org" meta.entityname="Duquesne Family Office" meta.hostid="267" meta.entityid="Duquesne Family Office">Duquesne Family Office</keyword> and two other US-based long-only funds - Driehaus Capital Management and Jennison Associates - bought shares but AESL did not disclose the exact number of shares they bought since these were less than 5 per cent of the issue size, sources said. The QIP issue marked the debut of highly prestigious long-only investors Duquesne Family Office, Driehaus Capital Management and Jennison Associates which are known for their strong performance. These investors are known for investing only in companies with high governance and are known for staying invested for decades. The QIP was the first public equity raise by the conglomerate since a damning Hindenburg report last year wiped away billions in shareholder value. The demand generated made the AESL QIP the largest in the energy space. Duquesne was founded by billionaire Stanley Druckenmiller, who along with George Soros in 1992 broke the Bank of England by shorting the British pound, leading to its crash and earnings over a billion dollars. Adani Group has a history of introducing several long-only investors in the market. In the past years, it has brought large investors including GQG Partners and International Holding Company (IHC) besides QIA. Other major global names that participated in the QIP include Blackrock, Jupiter Asset Management, and Eastspring. Domestic mutual funds that have participated included HDFC Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, LIC, WhiteOak, 360One among others. Insurance companies including SBI Insurance, SBI Pension and ASK Asset Management have also participated, according to sources. QIP is an instrument used by listed companies to raise funds from large institutions. The fundraise is the first after Adani group's flagship firm scrapped a Rs 20,000 crore issue in February last year, following the Hindenburg report alleging accounting fraud and stock manipulation. Though the group vehemently and repeatedly denied all allegations, listed companies of the conglomerate at one point saw over USD 150 billion of their market value being wiped out. While the group has largely recovered, a successful QIP is being seen as a powerful vote of investor confidence in the tycoon. Separately, Adani Enterprises Ltd, the flagship firm of the group, is looking to revive its first-ever public sale of bonds. It plans to raise as much as Rs 600 crore. The company has hired Trust Investment Advisors, AK Capital Services and Nuvama Wealth Management as lead managers for the issuances. The group had tapped the dollar bond market in March this year - the first time since the Hindenburg report - when its solar energy unit Adani Green Energy Ltd and associated firms got bids of about USD 2.9 billion.

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

<keyword id="60356" type="General" weightage="20" keywordseo="fundraising" source="Orion">Fundraising</keyword> through the issuance of shares to <keyword id="68968" type="General" weightage="20" keywordseo="institutional-investors" source="Orion">institutional investors</keyword> skyrocketed, as companies raked in Rs 50,218 crore in 2023, marking a six-fold surge from the previous year and indicating a positive outlook among investors. Apart from <keyword id="48708" type="General" weightage="20" keywordseo="qips" source="Orion">QIPs</keyword>, fund mobilisation through rights issue of shares and OFS (<keyword id="1498312" type="General" weightage="20" keywordseo="offer-for-sale" source="Orion">Offer-for-Sale</keyword>) route too surged in 2023, as compared to last year. Market experts attributed the primary reason for the increase in Qualified Institutional Placement (QIP) fundraising to the market and <keyword id="470493" type="General" weightage="20" keywordseo="investor-sentiments" source="Orion">investor sentiments</keyword> that play an important role in their success. As long as positive market vibes persist, and investors continue to reap returns, listed companies lean towards opting for fundraising through QIP as this avenue ensures swift access to funds, they added. According to data by the National Stock Exchange (NSE), companies collected Rs 50,218 crore through QIPs in 2023, which was way higher than Rs 8,196 crore raised in the preceding year. Bajaj Finance Ltd spearheaded the largest QIP, securing about Rs 8,800 crore. Following suit, Union Bank of India and Bank of India raised around Rs 5,000 crore and Rs 4,500 crore, respectively. In addition, there was one QIP of a REIT of Brookfield India Real Estate Trust that garnered Rs 2,305 crore this year. Other noteworthy contributors to the fundraising spree included Cholamandalam Investment &amp; Finance, Federal Bank, IDFC First Bank, Aditya Birla Capital and Bank of Maharashtra. Listed companies that need funds either to meet their capex requirements or to comply with Sebi's 25 per cent minimum public shareholding norms generally opt to raise funds through the QIP route. Further, as compared to rights issues or follow-on public offers (FPOs), the QIP route takes less time and fewer compliance norms. QIP is one of the quickest products to raise funds from institutional investors. It is designed only for the listed companies, which allows them to mobilize funds quickly from institutional investors without the need to submit any pre-issue filings to market regulators. The NSE data indicates a substantial rise in capital raised through rights issue route, reaching Rs 8,017 crore this year compared to Rs 3,646 crore in 2022. Furthermore, fund mobilization through the OFS route increased 44 per cent to Rs 15,959 crore in 2023, up from Rs 11,110 crore in the previous year.

QIP fundraising shines, cos garner Rs 50,200 cr in 2023

Private sector lender <keyword id="6356495" type="General" weightage="20" keywordseo="federal-bank" source="Orion">Federal Bank</keyword> on Tuesday said it has raised ₹ 3,099 crore through qualified institutional placement route to fund business growth. The board approved the allotment of 23.04 crore shares with a face value ₹ 2 each to eligible qualified institutional buyers at an issue price of ₹ 131.90 per unit, including a premium of ₹ 129.90 per share, reflecting a discount of ₹ 0.69 (0.52%) on the floor price of ₹ 132.59, Federal Bank said in a regulatory filing. Last week, the board had fixed a floor price of ₹ 132.59 per equity share for the Qualified Institutional Placement (QIP). Following the allotment of shares, the paid-up equity share capital of the bank stands increased from ₹ 4,23,63,28,436 crore - comprising 2,11,81,64,218 shares - to ₹ 4,697,283,704 crore, consisting of 2,348,641,852 shares, it said. The bank had posted a 42% rise in net profit at ₹ 1,147 crore for the June quarter, as against ₹ 807 crore in the year-ago period. The total income in the first quarter of the current fiscal rose to ₹ 5,757 crore, from ₹ 4,081 crore in the same period a year ago.

Federal Bank raises ₹3,099 crore via qualified institutional placement

New Delhi, Jan 8 () Telecom major Bharti Airtel on Wednesday said it has opened qualified institutions placement process to raise USD 2 billion and has launched FCCBs worth up to USD 1 billion. 
For the QIP issue, the special committee of directors has fixed a floor price of Rs 452.09 per share.
"...the Special Committee of Directors for Fund Raising of the company has, at its meeting held on January 8, 2020 approved issue of equity shares on a QIP (basis)..." the company said in a BSE filing.
It added that the floor price of Rs 452.09 per equity share in respect of the issue is based on the pricing formula as per Sebi rules.
The filing said the committee may, at its absolute discretion, offer a discount of not more than 5 per cent on the floor price.
Besides, the company has also launched foreign currency convertible bonds (FCCBs) at a regulatory floor price of Rs 452.09 to raise an aggregate amount of up to USD 1 billion, the filing said.
Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion in equity and another USD 1 billion in debt.
The proposal for issuance of securities for amount up to USD 2 billion, and issue of foreign currency convertible bonds and unsecured/secured redeemable non-convertible debentures along with or without warrants was passed at the company's EGM on January 3. 
Airtel is expected to use the funds to pay the adjusted gross revenue (AGR) liability and invest in the network.
The company has posted a staggering Rs 23,045 crore net loss for the second quarter ended September 30, due to provisioning of Rs 28,450 crore in the aftermath of the Supreme Court ruling on statutory dues.
According to government data, the liabilities in the case of Bharti Airtel add up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is the SUC dues (not including the dues of Telenor and Tata Teleservices). 
 Shares of Bharti Airtel closed at Rs 458.95 apiece, up 3.05 per cent from the previous close on BSE. SR SR BAL
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Bharti Airtel launches $2 bn QIP

<ul><li>HDFC is looking to bring in more capital in the wake of the coronavirus pandemic to the tune of ₹14,000 crore. </li><li>India’s biggest mortgage lender plans to raise ₹10,000 through qualified institutional placement (QIP) and ₹4,000 in warrants. </li><li>Another ₹9,000 will be issued as secured redeemable non-convertible debentures.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider. </a></li></ul>India’s biggest mortgage lender Housing Development Finance Corporation (HDFC) is on the hunt for capital and that's boosting its share price. HDFC’s stock value jumped by 1.5% in early morning trade after the company announced that it has plans to raise ₹14,000 crore through its new equity fundraising program. Around ₹10,000 crore will come from qualified institutional placement (QIP) and ₹4,000 crore in warrants. <div type="image" title="HDFC BANK stock price (1)" msid="77385963" hostid="261" caption="&amp;lt;p&amp;gt;HDFC share price jumps 1.5% as markets open today morning&amp;lt;/p&amp;gt;"></div> The floor price for the equity shares has been set to ₹1,838.94 and the board of directors will meet again on August 10 to determine the issue price. In addition to the ₹14,000 crore, HDFC will also be issuing secured redeemable non-convertible debentures worth ₹9,000 crore. This is the third time in the last 12 years that HDFC is raising capital through such an offering. It did so once in 2009 and then again in 2015. HDFC's first full quarter in the face of the coronavirus pandemic saw a loss of 4.7% at the end of June. Its gross non-performing loans stood at ₹8,631 crore accounting for 1.87% of HDFC’s loan portfolio. The company already has ₹12,285 in the bank as provisions to serve as a cushion once the Reserve Bank of India’s (RBI) moratorium ends on August 31. It even added another ₹1,199 this quarter specifically for COVID related accounts. Despite having safeguards in place, many companies are going down the QIP route to shore up capital against the uncertainty of the coronavirus pandemic. This includes Kotak Mahindra Bank, Info Edge and — most recently to lay down its offering — <a href="https://www.businessinsider.in/finance/banks/news/axis-bank-finalises-10000-crore-share-sale-to-raise-funds-at-a-floor-price-of-442-19/articleshow/77354177.cms">Axis Bank for a whopping ₹ 10,000 crore</a>. Others either have approved fundraising plans on stand by or are in the process of putting out their own QIP. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtel-amazon-team-up-to-take-on-jio-microsoft-in-the-battle-for-indias-cloud-market/articleshow/77371744.cms">Airtel-Amazon team up to take on Jio-Microsoft in the battle for India’s cloud market</a> <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-wants-25-30-of-its-employees-working-from-home-permanently-by-june-2021/articleshow/77346959.cms">INTERVIEW: Tech Mahindra wants 25-30% of its employees working from home permanently by June 2021 — CFO explains how they got to that number</a>

HDFC’s share price opened 1.5% higher after announcing ₹14,000 crore fundraising

New Delhi, Dec 6 () RBL Bank on Friday said it has raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth.
 In a statement RBL Bank said "it has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares."
 QIP is a tool used by listed companies to sell shares, debentures, or any other security, other than warrants that are convertible into stocks, to qualified institutional buyers such as mutual funds and foreign institutions.
 "This capital infusion significantly enhances our capital adequacy, and positions us well to capitalise on the various growth opportunities available to us, especially as economic growth returns to normal," RBL Bank MD and CEO Vishwavir Ahuja said.
 "The QIP increases the bank's total capital adequacy ratio to 15.3 per cent, core equity tier I ratio to 14.3 per cent, enabling the bank to remain capitalised well above the regulatory limits," the statement said.
 The issue saw strong demand from domestic as well as foreign qualified institutional buyers (QIBs), the statement said.
 The shares of RBL Bank were trading at Rs 363.65, down 0.48 per cent on BSE in the morning trade. SID DRR

RBL Bank raises Rs 2,025 cr through QIP

New Delhi, Jan 15 () Bharti Airtel has raised USD 3 billion through QIP and FCCB route, completing a massive fund raising exercise for the firm, which has to pay billions of dollars in statutory dues.
Post the USD 2 billion Qualified Institutional Placement (QIP) issue, the holding of promoter and promoter group will come down to 58.98 per cent as against 62.70 per cent, Bharti Airtel said in a statement.
"The company...will issue 32,35,95,505 equity shares of face value of Rs 5 per equity share at a price of Rs 445 which implies a discount of 1.57 per cent on the SEBI (Securities and Exchange Board of India) determined floor price of Rs 452.09 per equity share," the statement said.
The offer saw participation by marquee global and Indian investors, it added.
The transaction is the largest ever dual tranche equity and FCCB offering in Asia Pacific, largest QIP ever by a private sector issuer in India, and largest FCCB offering from an India issuer in the last 12 years, the company added.
Bharti Airtel, Vodafone Idea and other telcos owe the government nearly Rs 1.47 lakh crore in past statutory dues. These liabilities arose after the Supreme Court in October last year upheld the government's position on including revenue from non-core businesses for calculating the annual AGR (Adjusted Gross Revenue) of telecom companies, a share of which is paid as licence and spectrum fees to the exchequer.
The statutory liabilities in the case of Bharti Airtel adds up to nearly Rs 35,586 crore, of which Rs 21,682 crore is licence fee and another Rs 13,904.01 crore is spectrum dues (excluding the dues of Telenor and Tata Teleservices).
Earlier this month, shareholders of Bharti Airtel had approved proposals to raise up to USD 2 billion (over Rs 14,000 crore) in equity and another USD 1 billion (around Rs 7,000 crore) in debt.
In a statement on Wednesday, Airtel said it has "raised USD 2 billion through the QIP route and USD 1 billion through FCCBs". The participation was by diversified investor base, which includes global long only funds, sovereign wealth funds, domestic mutual funds, multi-strategy funds and insurance companies in sizable quantities, it added.
Long only investors comprised 80 per cent of the demand for the QIP.
The company said the FCCB offering was multiple times oversubscribed with very strong demand from Asian and European funds.
"The FCCB was priced at a coupon of 1.5 per cent per annum, yield-to-maturity of 2 per cent per annum and a conversion premium of 20 per cent above the final QIP price of Rs 445," it said.
Harjeet Kohli, Group Director of Bharti Enterprises, said the offering witnessed a strong response from the global and domestic investor community, despite a volatile market environment and challenging global macro-economic conditions.
"This underlines Airtel's growth oriented financial performance and future growth potential of our business and the sector. We are delighted with the participation and continuing support of high quality investors thereby ensuring further diversification of the shareholder base of Bharti Airtel."
Airtel said that the proceeds of the fund will be used for augmenting the company's long term resources and strengthening the balance sheet, servicing and repayment of short term and long term debts, towards statutory dues, and long term working capital requirements.
Airtel shares closed at Rs 467.10 apiece on Wednesday, 0.50 per cent lower than the previous closing. MBI MBI BAL
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Airtel raises USD 3 billion dollars via QIP, FCCB offering

New Delhi, Apr 2 () In the wake of coronavirus pandemic, Sebi has extended the deadline for public comments on proposed relaxation in norms with regard to six-month-gap between two QIPs, and delisting of a firm in case of its merger with listed holding firm till April 30.Securities and Exchange Board of India (Sebi) had sought comments on these two proposals till April 15.In addition, the deadline has been extended for submission of comments till this month-end on proposed e-voting facility provided by listed firms as well as on a proposal that will require listed entity to obtain prior approval from the shareholders before extending any loan and guarantee to promoter entities.The comments on these two proposals were sought till March 31."In view of the representations received by Sebi seeking extension of timelines due to impact of COVID-19 pandemic, it has been decided to extend the timelines for seeking public comments on... (the) consultation papers to April 30, 2020," the regulator said in a report dated March 31.With respect to QIP, it has been proposed to relax the mandatory requirement of a six-month-gap between two successive issuances of shares to qualified institutional investors by listed companies requiring urgent funds, if they meet certain conditions.As per the Sebi regulations, a listed company cannot make any subsequent qualified institutions placement until the expiry of six months from the date of the prior qualified institutions placement made pursuant to one or more special resolutions.In respect of delisting, the capital markets regulator proposed to exempt a listed company from following regulations in case of its merger with a listed holding firm, if the shareholders of the subsidiary entity gets shares of the parent.This would apply to cases where a listed holding company is merging its listed subsidiary and the subsidiary is desirous of getting delisted without following the provisions of delisting regulation.Further, Sebi, last month, proposed two mechanisms to make the e-voting process more secure, convenient and simple for shareholders.Under the proposal, shareholders would be able to access the e-voting links of ESPs (e-voting service providers) without further authentication by it for participating in the process. Further, to enable demat account holders to cast vote on different ESP portals without having to register again with the ESPs.At present, multiple players provide e-voting facility to listed entities in the country and shareholders require to register and maintain multiple user IDs and passwords with them.In its draft papers on guarantee provided by listed firm, Sebi proposed that a listed entity shall obtain prior approval from the shareholders on a "majority of minority" basis, before extending any loan, guarantee or security for the benefit of promoter entities.As per the proposal, the listed entity shall extend a guarantee or security to any person or entity, including promoter, promoter group, director, directors' relative and key management person, considering the "economic interest" of the company. SP BAL

You Searched For "qips" and got 9 results

LIC increases stake in Bank of Maharashtra from 4.05 percent to 7.1 percent through QIP

ANI

Qatar Investment Authority unit, SBI funds, Citigroup biggest buyers in Adani Energy's USD 1 billion QIP

PTI

QIP fundraising shines, cos garner Rs 50,200 cr in 2023

PTI

Federal Bank raises ₹3,099 crore via qualified institutional placement

PTI

Bharti Airtel launches $2 bn QIP

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HDFC’s share price opened 1.5% higher after announcing ₹14,000 crore fundraising

Prabhjote Gill

RBL Bank raises Rs 2,025 cr through QIP

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Airtel raises USD 3 billion dollars via QIP, FCCB offering

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Covid-19: Sebi extends deadline for comments on proposed relaxation in QIP, delisting norms

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