Hindustan Times (Lucknow)

FEDERAL BANK LAUNCHES QIP TO RAISE ₹2,500 CR

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Federal Bank Ltd on Wednesday said it has launched a qualified institutio­nal placement (QIP) offering that could see it raise up to ₹2,500 crore from institutio­nal investors. QIP is a capital-raising tool via which listed companies can sell shares, debentures, or any securities other than warrants that are convertibl­e into stocks, to a qualified institutio­nal buyer. The QIP will be the sixth launched by a bank this year. In 2017, banks have dominated the QIP route, raising over ₹26,000 crore so far.

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