Bajaj Finance Limited has officially launched its Qualified Institutional Placement (QIP) on November 11, 2026, aiming to raise up to Rs 11,700 crore. This strategic move by the non-banking financial company (NBFC) is set to attract eligible qualified institutional buyers (QIBs) and bolster its financial position.
Floor Price and Potential Discount Set
The company's board has approved a floor price of Rs 992.25 per equity share for the QIP, determined in accordance with SEBI ICDR Regulations. This floor price represents an 8 percent discount compared to Bajaj Finance's closing share price of Rs 1,078.80 on the preceding Thursday. Furthermore, Bajaj Finance has stated it may offer a discount of up to 5 percent on this floor price, subject to regulatory approvals and shareholder consent. The final issue price will be decided in consultation with the appointed book-running lead managers.
Purpose of the Fundraising
The substantial capital raised through this QIP is earmarked for crucial financial activities. Bajaj Finance intends to utilize the proceeds for the repayment of existing deposits, loans, commercial papers, non-convertible debentures, and associated interest payments. This move is expected to strengthen the company's balance sheet and optimize its financing structure.
Board Approvals and Warrants Allotment
Prior to the QIP launch, the Bajaj Finance board had approved the preliminary placement document and application form. These documents have been circulated to eligible QIBs through leading financial institutions including Kotak Mahindra Bank, JPMorgan, IIFL Capital Services, JM Financial, Axis Capital, and Morgan Stanley. This process invites bids and facilitates the collection of completed application forms along with subscription amounts.
Notably, the QIP follows a recent board decision to allot 5,74,25,740 warrants to Bajaj Finserv. Approved at an issue price of Rs 1,010 per warrant, these are convertible into an equivalent number of equity shares. This allotment was approved on November 2, 2026, and is part of the broader financial restructuring and capital enhancement initiatives by Bajaj Finance.