New Delhi, Nov 12 (PTI) Shares of Bajaj Finance on Thursday climbed over 3 per cent after the non-bank lender

New Delhi, Nov 12 (PTI) Shares of Bajaj Finance on Thursday climbed over 3 per cent after the non-bank lender

New Delhi, Nov 12 (PTI) Shares of Bajaj Finance on Thursday climbed over 3 per cent after the non-bank lender

New Delhi, Nov 12 (PTI) Shares of Bajaj Finance on Thursday climbed over 3 per cent after the non-bank lender announced the launch of a Rs 11,700-crore qualified institutional placement (QIP) to fund business growth.

     The stock advanced 3.32 per cent to settle at Rs 1,110.70 on the BSE. During the day, it jumped 3.98 per cent to Rs 1,117.80.

     At the NSE, the stock closed 3.35 per cent higher at Rs 1,115.

     The stock was the biggest gainer among the Sensex firms.

     A Special Committee of the board at its meeting held on Wednesday 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 at 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)