 "Fundraising via QIPs gains traction in '24 market")
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Illustration: Binay Sinha
Indian Overseas Bank (IOB) and UCO Bank are likely to raise funds from the market through the qualified institutional placement (QIP) route next month, while Punjab & Sind Bank is likely to follow suit later in the current financial year towards meeting the public shareholding norm of 25 per cent.
When a public sector unit raises funds through QIP, the money goes directly to the state-owned company as it involves the issuance of new shares, whereas in the case of an offer for sale (OFS), the money raised goes to the government as it involves the sale of
First Published: Jul 18 2024 | 8:13 PM IST
