BAJAJ FINANCE RISE 2% AS COMPANY LAUNCHES QIP

BAJFINANCE Shares of Bajaj Finance gained more than 2 percent in Thursday's trading session after the non-banking financial company launched its qualified institutional placement to raise Rs 11,700 crore. The company has fixed the floor price at Rs 992.25 per equity share, while the indicative issue price has been set at Rs 1,025 per share. Bajaj Finance shares climbed 2.3 percent apiece in morning trade, emerging among the top gainers on the Nifty 50. The stock has advanced 13.4 percent so far in 2026, outperforming the benchmark Nifty 50, which has declined around 3 percent during the same period. The company's market capitalisation stood at approximately Rs 6.9 lakh crore. The company formally launched the Rs 11,700-crore QIP on November 11 after receiving approval from its board of directors and shareholders. In a regulatory filing on Wednesday evening, Bajaj Finance said its QIP 2026 Special Committee had approved the opening of the issue for eligible qualified institutional buyers and finalised the floor price at Rs 992.25 per share. The indicative issue price of Rs 1,025 represents a discount of approximately 5 percent to Wednesday's closing price of Rs 1,078.80. The proposed fundraising is expected to result in equity dilution of up to 1.8 percent of the company's pre-issue outstanding equity capital. According to the stock exchange filing, the company's board approved the proposed fundraising at its meeting held on October 1, 2026. Subsequently, shareholders approved the proposal through a special resolution dated November 2. At its November 11 meeting, the QIP committee authorised the opening of the issue and approved the preliminary placement document along with the application form for eligible institutional investors. The committee also designated November 11 as the relevant date for determining the issue price.