Bajaj Finance’s board approved two fundraising proposals on October 1 that together could bring in up to ₹17,500 crore. Its filing to the stock exchanges sets a ceiling of ₹11,700 crore for a qualified institutions placement and ₹5,800 crore for a preferential issue of convertible warrants. These are approvals to pursue transactions, not confirmation that the money has been raised.
The company plans to seek shareholder consent at an extraordinary general meeting. The proposals also remain subject to applicable regulatory and statutory approvals. The four-page exchange filing says the board met between 8:30pm and 9pm IST on October 1.
The institutional placement would issue equity shares with a face value of ₹1. Bajaj Finserv, the promoter and holding company, is the proposed sole recipient of the warrants. The warrant issue price will be set later under the applicable rules, so the announced amount should not be mistaken for a final share price.
CNBC-TV18’s October 2 report also describes the two-part proposal. Under the filing’s warrant terms, at least 25% is payable at allotment and the remaining 75% when the options are exercised. The stated conversion period is 18 months, subject to any different period allowed under the rules; failure to exercise leads to forfeiture. No completed allotment or investment-return guarantee is established by this announcement.