Bajaj Finance to raise up to Rs 17,500 crore via QIP and warrants

Bajaj Finance's Board of Directors has approved a proposal to raise up to Rs 17,500 crore through a combination of Qualified Institutional Placement (QIP) and a preferential issue of warrants.

The fundraising plan consists of two main components: a QIP to raise up to Rs 11,700 crore by issuing equity shares to qualified institutional buyers, and a preferential issue of warrants totaling up to Rs 5,800 crore. These warrants grant holders the right to convert them into an equivalent number of equity shares.

The proposals are subject to regulatory and statutory approvals, including shareholder consent to be sought via an Extra Ordinary General Meeting (EGM). The company stated that the processes will comply with the Securities and Exchange Board of India (SEBI) regulations and the Companies Act, 2013.