The norms for faster clearance of Qualified Institutional Placements (QIPs), used by corporates to raise money from market, will be ready by this month-end, the capital market regulator Securities and Exchange Board of India (Sebi)  said here on Tuesday.

“The primary market advisory committee of Sebi, at a meeting on Monday, cleared a package of proposal to ease issuances of QIPs,” Sebi Chairman M Damodaran said at a FICCI-IIFT symposium here on Tuesday. “By end of this month, we will have entire framework in place when the Board approves the proposal,” Mr Damodaran said, adding that around 30 companies can raise fast track money when the norms are in place.

Sebi’s fast-track QIPs clearance will be based on the well-known seasoned issuers or WKSIs model followed in the US market and India will be only the second country to introduce this model and first in the emerging markets.