Bajaj Finance to lift Rs 17,500 cr by way of QIP, pref problem

Mumbai: The board of administrators at Bajaj Finance have permitted elevating Rs 11,700 crore by way of a professional establishments placement (“QIP“). Individually, Rs 5800 crore shall be raised by way of the difficulty of warrants by way of a preferrential allotment to promoter Bajaj Finserv, the corporate stated in a discover to the inventory exchanges.

“The corporate shall be searching for approval of the shareholders for the proposed QIP and by convening an Further Extraordinary Basic Assembly,” the corporate stated.

In whole, the corporate will elevate as much as Rs 17,500 crore.

Within the QIP, institutional traders shall be allotted shares, whereas warrants shall be issued to promoters probably to make sure that their stake will not be diluted.