Mumbai: Bajaj FinanceNSE 1.07 % is raising funds through a qualified Institutional placement (QIP) on Monday, the company said in a filing to the BSE.
The company has fixed the QIP’s floor price at Rs. 4,019.78 per share, and said it may offer discount on the floor price as the special committee decides in accordance with Sebi regulations.
Media reports suggested that Bajaj Finance is looking to raise around Rs 8,500 crore through the QIP route, and the price band was likely to be between Rs 3,810–3,900 per share.
Last month, Bajaj Finance reported a 63 per cent surge in net profit for the quarter ended September. The company had posted a net profit of ₹923 crore in the same quarter of the previous year.
For the year to date, Bajaj Finance shares have returned 56.14 per cent, while BSE’s 30-share benchmark Sensex has logged 11.74 per cent returns in the same period.
[“source=economictimes”]
