The Board of Directors of Bajaj Finance Ltd, at its meeting held today, approved, subject to shareholders approval, raising of capital through a Qualified Institutions Placement ("QIP") for an aggregate amount not exceeding Rs. 8,500 crore by issue of Equity Shares and/or Eligible Securities.
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 Company will be seeking approval of the shareholders for the proposed QIP by way of a postal ballot.
Shares of Bajaj Finance Limited was last trading in BSE at Rs.3376.5 as compared to the previous close of Rs. 3418.35. The total number of shares traded during the day was 78344 in over 4844 trades.
The stock hit an intraday high of Rs. 3433 and intraday low of 3354.5. The net turnover during the day was Rs. 266046394.