india-goes-qip-crazy

India goes QIP crazy

Five placements are launched in India overnight, taking advantage of a window of opportunity created by UnitechÆs deal on Friday.

There was nothing exceptional about the performance of India's Sensex benchmark index yesterday -- it closed up only 0.14% -- but that didn't stop five companies from launching qualified institutional placements QIPs. Together, the deals could raise as much as $1.15 billion.

One source said the success of Unitech's $575 million placement on Friday gave other companies a window of opportunity to launch their own deals. Big deals beget more deals, as one source put it. 

Given the outcome of the Unitech deal -- the property developer set out to raise $275 million, only to upsize by another $300 million due to strong demand - it should come as no surprise that...

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