The shares of Bajaj Finance surged nearly 2% after opening flat at ₹7850.00 against the previous close of ₹7850.90. The shares witnessed the high of ₹7996.75 and are currently trading upwards after the board approved ₹8000 crore capital raise plan through NCDs
Bajaj Finance Limited, a prominent non-banking financial institution in India, has unveiled its capital-raising plans, subject to regulatory approvals and shareholder consent. The company intends to raise funds through a Qualified Institutions Placement (QIP) for an amount not exceeding Rs. 8,800 Crore. Additionally, there is a proposal for a Preferential Issue (PI) of up to 15,50,000 warrants convertible into equity shares, offered to Bajaj Finserv Limited, the company’s promoter, for a total sum of Rs. 1,200 Crore. These initiatives were approved by the company’s Board of Directors and will be conducted in compliance with relevant regulations, including those stipulated by the Securities and Exchange Board of India.
At 10:40 AM the shares of Bajaj Finance were up 1.38% or 108.10 at ₹7959.00
