Photo: Mint
Photo: Mint

Bajaj Finance to raise Rs8,500 crore via QIP

  • Bajaj Finance board approves raising of capital through QIP for an aggregate amount not exceeding Rs8,500 crore by issue of equity shares
  • Stock of Bajaj Finance closed 1.54% lower at Rs3,365.65 on the BSE

NEW DELHI : Bajaj Finance on Tuesday said it will raise up to Rs8,500 crore through qualified institutional placement (QIP) by issuing equity shares.

The board of directors, at its meeting held on September 17, approved raising of capital through QIP for an aggregate amount not exceeding Rs8,500 crore by issue of equity shares, it said in a regulatory filing.

The approval, it said, is subject to shareholders' nod to be sought through a postal ballot.

Stock of Bajaj Finance closed 1.54% lower at Rs3,365.65 on the BSE.

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