For Quick Alerts
For Daily Alerts

Bajaj Finance Shares Trade Closer To Their All-Time High On QIP Launch


On Tuesday, shares of Bajaj Finance jumped as much as 2.4 percent to Rs 4,210 on NSE following the launch of the NBFC's (non-banking finance company) QIP Issue.

Bajaj Finance Shares Trade Closer To Their All-Time High On QIP Launch
Bajaj Finance: Quotes, News
BSE 4187.85BSE Quote24.1 (-0.58%)
NSE 4187.60NSE Quote22.95 (-0.55%)

On Monday, the company launched its Rs 8,500 crore qualified institutional placement (QIP) where shares were offered at a floor price of Rs 4,019.78 per share, as per a BloombergQuint report.

While the floor price is at a 2.3 percent discount to the previous closing price, the company has scheduled a meeting on 7 November to approve the issue price to be allotted to the QIP buyers.

On Tuesday shares of Bajaj Finance saw their fourth consecutive session of gains and were trading closer to their all-time high of Rs 4,220 seen on 22 October 2019.

QIPs allow Indian listed company to raise capital without having to submit legal paperwork to market regulator SEBI, making it a quicker and cost-effective way to raise funds than depend on foreign capital resources.

At a time when NBFCs in India are facing liquidity crunch, the share sale will help Bajaj Finance expand its lending business.

JM Financial, Axis Capital, Kotak Mahindra Capital, Morgan Stanley, and Nomura are advising the company on the QIP issue.

Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more