Issue size: up to Rs 11,700 crore.
Floor price: Rs 992.25.
Maximum discount: 5% on the floor price.
Warrants to Bajaj Finserv: 5,74,25,740 at Rs 1,010.
Share price: about Rs 1,078.80.
Bajaj Finance said it may offer a discount of not more than 5% on the floor price, subject to applicable rules and shareholder approval, according to Business Today.
The final issue price is to be set by the company together with the book-running lead managers.
The lead managers named in the report are Kotak Mahindra Bank, JPMorgan, IIFL Capital Services, JM Financial, Axis Capital and Morgan Stanley.
Shareholders approved the raise through a special resolution dated November 2, 2026, according to Business Today.
The company said proceeds would be used for repayment of deposits, loans, commercial papers, non-convertible debentures and interest payments, according to Business Today.
Another report says the QIP is part of a broader capital-raising plan approved by the board on October 1, 2026, according to a search summary of Zeebiz coverage.
Business Today reports that the board approved the allotment of 5,74,25,740 warrants to Bajaj Finserv at Rs 1,010 per warrant, each convertible into one equity share of face value Re 1.
Warrants are instruments that give the holder the right to convert into shares later, and the warrant issue is separate from the QIP.
Reports put the warrant component at about Rs 5,800 crore, and a Bloomberg-sourced report put the overall plan at Rs 17,500 crore, according to search summaries.
Bajaj Finance shares were quoted at Rs 1,078.80, up 1.31%, on the day of the report and are up 12.4% over the past month, according to Business Today.
Business Today’s article also contains a garbled dollar figure for the issue size, and Rs 11,700 crore is the figure used here.
The reports differ on the opening date: Business Today refers to the committee meeting on November 11, and Zeebiz says the issue would open on November 11.
Indian currency notes (representative image), Wikimedia Commons, CC BY-SA 4.0
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Ananya covers South Indian cinema, pan-India films and celebrity lifestyle.
