Bajaj Finance to raise Rs 11 700 cr via QIP

New Delhi, Nov 11 (PTI) Bajaj Finance on Wednesday launched a Rs 11,700 crore capital raise plan through qualified institutional placement (QIP) to fund business growth.

     A Special Committee of the board at its meeting held today considered and approved authorising the opening of the issue to eligible qualified institutional buyers in accordance with the terms of the issue, Bajaj Finance said in a regulatory filing.

     The panel also approved the floor price Rs 992.25 per equity share, based on the pricing formula as prescribed under the Sebi ICDR Regulations, the non-banking financial company (NBFC) said.

     Pursuant to the shareholders' approval, accorded through a special resolution dated November 2, 2026, the company has been authorised to offer a discount of not more than 5 per cent on the floor price calculated for the issue, it said.

     On Tuesday, Bajaj Finance allotted 5.74 crore warrants to promoter Bajaj Finserv on a preferential basis for Rs 5,799 crore.

(This story has not been edited by THE WEEK and is auto-generated from PTI)