investors-continue-to-pile-into-indian-offers

Investors continue to pile into Indian offers

Three QIPs raise a combined $1.3 billion as the Sensex closes in on its all-time high.
December 09, 2007
While most investors appear to have lost their appetite for Chinese offerings, they are still happy to commit money in India where the local stock market closed only 11 points below its all-time high on Friday. The market also had no problem absorbing three qualified institutional placements, or QIPs, that raised a combined $1.3 billion towards the end of last week.

The largest of them was an offering by GMR Infrastructure which, thanks to the solid demand, was increased to $1 billion from $750 million. However, the company had to make a trade-off in terms of price. According to a source, the final price was set at the bottom of the Rs240 to Rs290...
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