Who is qualified institutional buyer (QIBs)?
QIBs are those institutional investors who are perceived to possess expertise and the financial strength to evaluate and invest in the capital markets. A QIB is defined as -
a. Public financial institution as defined in section 4A of The Companies Act, 1956;
b. Scheduled commercial banks;
c. Mutual funds;
d. Foreign institutional investor registered with Sebi;
e. Multilateral and bilateral development financial institutions;
f. Venture capital funds registered with Sebi.
g. Foreign venture capital investors registered with Sebi.
h. State Industrial Development Corporations.
i. Insurance companies registered with the Insurance Regulatory and Development Authority (IRDA).
j. Provident Funds with minimum corpus of Rs 25 crores
k. Pension Funds with minimum corpus of Rs 25 crores
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