Public sector banks (PSBs) are seeking the backing of mutual funds (MFs) to ensure smooth sailing of their qualified institutional placements (QIPs). Over half a dozen sate-owned banks will soon tap the market for equity fundraising worth Rs 18,300 crore (nearly $3 billion).
Approaching institutional investors ahead of a fundraising programme, ‘roadshow’ in market parlance, is a common practice. However, some banks are said to have asked MFs to mandatorily participate in the programme.
