The board of directors of Bajaj Finance has given the green light for raising Rs 10,000 crore through a combination of qualified institutional placement (QIP) and the issuance of preference shares. The company aims to raise Rs 8,800 crore by issuing equity shares to institutional investors, with an additional Rs 1,200 crore to be raised through preferential warrants convertible into equity shares for promoter Bajaj Finserv Limited. Bajaj Finance, a deposit-taking Non-Banking Finance Corporation (NBFC) and a subsidiary of Bajaj Finserv, will seek shareholder approval for the proposed QIP and preferential issuance through an extraordinary general meeting.
Bajaj Finance Board Approves Rs 10,000 Crore Fundraising Through QIP and Preference Share Issuance
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