FEDERAL BANK LAUNCHES QIP TO RAISE ₹2,500 CR
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.