A QIB, or Qualified Institutional Buyer, is an institutional investor who is considered to have the knowledge and resources to assess and invest in the financial markets. According to SEBI, a QIB can be a registered mutual fund, venture capital fund, Alternative Investment Fund, or foreign venture capital investor. It can also be a foreign institutional investor, public financial institution, commercial bank, or development financial institution. Other eligible QIBs include state industrial development corporations, insurance companies, provident funds, pension funds, and government-established funds such as the National Investment Fund. Additionally, insurance funds managed by the Indian armed forces or the Department of Posts also fall under the category of QIBs.