Money & Banking

Bajaj Finance gets approval for QIP

Our Bureau Mumbai | Updated on September 17, 2019 Published on September 17, 2019

Bajaj Finance logo on building.

Bajaj Finance (BFL), on Tuesday, said its board of directors has approved raising of capital through a qualified institutional placement (QIP) for an aggregate amount not exceeding ₹8,500 crore by issue of equity shares and/or eligible securities.

Further, for the purpose of giving effect to the fund-raising decision, the board of directors has also authorised a special committee of the board to decide the terms and conditions of the proposed QIP, and an allotment committee for allotment of equity shares and/or eligible securities, pursuant to the QIP, the non-banking finance company said in a stock exchange notice. BFL said it will be seeking shareholders’ approval for the proposed QIP through postal ballot.

Published on September 17, 2019
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