Bajaj Finance Rs 11,700-Crore QIP Signals Confident Growth

Shares of Bajaj Finance Limited surged more than 3% in Thursday's trading session, closing at Rs 1,110.70 on the BSE (up 3.32%) and Rs 1,115 on the NSE (up 3.35%), making it one of the top gainers among benchmark Sensex constituents. The strong rally followed the non-banking financial company's (NBFC) formal launch of its Rs 11,700-crore Qualified Institutional Placement (QIP) on November 11. The QIP Committee fixed the SEBI-prescribed floor price at Rs 992.25 per equity share, with an indicative issue price set near Rs 1,025—a roughly 5% discount to Wednesday's closing level. This institutional share sale forms the second tranche of Bajaj Finance's massive Rs 17,500-crore fundraising programme approved by the board in October. Earlier this week, the company allotted 5.74 crore preferential warrants worth approximately Rs 5,800 crore to its promoter, Bajaj Finserv, at Rs 1,010 apiece. Despite the sizable capital infusion, the QIP involves issuing up to 11.41 crore equity shares, resulting in a marginal equity dilution of under 1.9%. BAJFINANCE