Bajaj Finance board approves ₹17,500cr raise via QIP and warrants
Business
Bajaj Finance is gearing up to raise up to ₹17,500 crore using two methods: a Qualified Institutional Placement (QIP) and a preferential issue of warrants.
The board has already approved the plan, but it still needs a thumbs-up from regulators and shareholders.
QIP ₹11,700cr warrants need shareholder approval
₹11,700 crore will come from QIP, basically inviting big institutional investors to chip in.
Another up to ₹5,800 crore will be raised by offering warrants that can later turn into shares if certain conditions are met.
Both steps need shareholder approval at an upcoming meeting before anything moves forward.