MPS Limited (NSEI:MPSLTD) is looking for acquisitions. Chairman and Chief Executive Officer Rahul Arora said, "We are now pursuing acquisitions of healthy companies at least with 15% EBITDA that are growing at atleast 10% over a 3-year period. The qualifying criteria for us now as a potential buyer for these type of assets has become even more important and the deal sizes are also increasing.

In this context, we have taken the conservative approach and armed ourselves with enabling approval for the QIP. The approval was never meant to imply a definitive raise and perhaps we could have been better in our communication. At this point, we are actually pursuing a couple of acquisitions that will be funded from internal accruals.

We intend to utilize a QIP as an instrument of last resort only when pursuing a relatively higher deal size that cannot be funded from internal accruals and debt. As I've shared previously, we are comfortable raising debt in the range of INR 1,000 million to INR 1,300 million. But I don't think it's appropriate for me to comment on the likelihood of a QIP.

I can confirm that based on the current visibility, internal accruals will be the first lever for us to unlock the next couple of acquisitions".