Bajaj Finance has completed investor roadshows and could launch the so-called QIP in the next day or two.
Bajaj Finance Prepares Major QIP Launch
Bajaj Finance Ltd. is preparing to raise up to ₹11,700 crore, or roughly $1.2 billion, through a qualified institutions placement, according to people familiar with the matter. The lender has finished its investor roadshows and may launch the offering within a day or two in Mumbai. If it proceeds, this would be the first significant Indian equity offering since Jio Platforms Ltd.'s $3.1 billion initial public offering last month. The company is working with Kotak Mahindra Capital Co. Ltd., Morgan Stanley, JPMorgan Chase & Co., IIFL Capital Services Ltd. and JM Financial Ltd. on the transaction. Deliberations are still ongoing, and the size and timing could change. Representatives for Bajaj Finance, JPMorgan and the other banks did not immediately respond to requests for comment, while JPMorgan declined to comment.
Board Approval And Warrant Allotment
The proposed QIP traces back to a board decision on 1 October, when Bajaj Finance approved raising as much as ₹17,500 crore. That plan comprises the ₹11,700-crore QIP and ₹5,800 crore through warrants. On 10 November, the company allotted about 57.43 million warrants to its promoter and holding company, Bajaj Finserv Ltd., at ₹1,010 apiece, raising roughly ₹5,800 crore, according to an exchange filing. The warrant route therefore sits alongside the institutional share sale as part of the larger fundraising programme.
Why It Matters For Businesses
India has been among the busiest equity fundraising markets globally this year. Companies have raised approximately $50.25 billion from equity offerings so far, against $58.78 billion for all of last year. Notable deals this year include Jio Platforms' $3.1 billion IPO, National Stock Exchange of India Ltd.'s $2.4 billion listing and a $3.3 billion share sale by Life Insurance Corp. of India. A large QIP from a prominent non-banking financial company signals continued issuer confidence and deep institutional demand. For legal, tax an…
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