The market value of qualified institutional placements (QIPs) made by 49 Indian companies since the first one in September 2006 to raise $6.58 billion (Rs.263.2 billion) has eroded 42.13 percent to $2.77 billion (Rs.110.8 billion), according to a study.
The study titled ‘QIPs - Flavour of 2007, Out-of-flavour in 2008′, prepared by the capital markets arm of India’s fourth largest share brokerage firm, the Delhi-based SMC Group, was made available to IANS here Thursday.
“Investors have suffered some of the biggest losses in companies such as Ansal Properties, GMR Infrastructure, Suzlon Energy and Kotak Mahindra Bank, among others,” the author of the study Jagannadham Thunuguntla, head of capital markets at SMC said.