Bajaj Finance allots 75,000 NCDs worth ₹760 crore. Details here
- Bajaj Finance share price has risen over 13% in one month and nearly 19% year-to-date (YTD). The Bajaj Group stock has delivered 25% returns in six months as against the benchmark Sensex falling over 3% during the same period.
Bajaj Finance share price declined over 2% on Monday, extending losses for the third consecutive session. Bajaj Finance shares fell as much as 2.86% to ₹8,228.00 apiece on the BSE.
The deposit-taking Non-Banking Finance Company (NBFC), Bajaj Finance on February 10 informed about fundraising through the issuance of Non-Convertible Debentures (NCD).
The company has allotted 75,000 NCDs of face value of ₹1,00,000 each aggregating to ₹760.09 crore on 10 February 2025, on a private placement basis.
“...this is to inform you that the Debenture Allotment Committee of the Company has at its meeting held today i.e., 10 February 2025, allotted 75,000 NCDs, at face value of ₹1 Lakh each aggregating to Rs. 760.09 crore on private placement basis,” Bajaj Finance said in a regulatory filing.
Bajaj Finance NCD Details
The Debentures are proposed to be listed on the Wholesale Debt Market Segment of BSE Limited. The tenure of the instrument is 1,033 Residual days, with the date of allotment as 10 February 2025, and the Date of maturity as on 10 December 2027.
The Coupon rate or interest rate offered on the NCDs is 7.7951% p.a., paid annually and on maturity thereafter. The NCDs are redeemable on maturity, according to Bajaj Finance’s stock exchange filing.
Bajaj Finance Stock Price Trend
Bajaj Finance share price has risen over 13% in one month and nearly 19% year-to-date (YTD). The Bajaj Group stock has delivered 25% returns in six months as against the benchmark Sensex falling over 3% during the same period.
In the past one year, Bajaj Finance stock price has rallied 24% and it has surged 28% in two years.
Should you buy Bajaj Finance Stock?
According to Ganesh Dongre, Senior Manager - Technical Research at Anand Rathi, the trend in Bajaj Finance shares looks weak and hence, he recommends traders to remain cautious on the NBFC stock.
“Bajaj Finance shares saw a breakout above ₹8,050 level. However, the current trend in the stock remains weak and caution is warranted. Selling pressure in Bajaj Finance shares may intensify if the stock slips below ₹8,000 level, and then it may hit up to ₹7,600 - 7,500 levels on the downside,” said Dongre.
For traders opting to buy Bajaj Finance stock, the Anand Rathi analyst recommends keeping a stock loss at ₹8,000 level on a closing basis.
At 1:05 PM, Bajaj Finance shares were trading 2.79% lower at ₹8,234.00 apiece on the BSE, with a market capitalisation of more than ₹5.10 lakh crore.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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