Bajaj Finance Approves ₹17,500 Crore Capital Raise Plan
· Business · LiveMint, Economic Times
Bajaj Finance has received board approval to raise up to ₹17,500 crore to strengthen its capital base. The plan includes a Qualified Institutions Placement (QIP) of up to ₹11,700 crore and a preferential issue of warrants worth ₹5,800 crore to its promoter, Bajaj Finserv. The transactions remain subject to regulatory and shareholder approvals, which will be sought at an upcoming Extra Ordinary General Meeting. This capital-raising exercise follows a period where the company's shares have declined by 10% over the last month.
Why it matters
This significant capital infusion aims to bolster Bajaj Finance's balance sheet, impacting its financial capacity and investor sentiment in the non-banking financial sector.
Read the original report — LiveMint
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