Bajaj Finance To Mull Raising Funds Via QIP On Oct. 5

Bajaj Finance Ltd. will convene a board meeting on Oct. 5 to consider raising funds via preferential issue and qualified institutional placement.

The proposal for raising funds through various methods—including by way of preferential issue and the QIP—will be subject to regulatory approvals, including approval of the shareholders of the company, according to an exchange filing on Friday.

The company did not disclose the proposed amount for fundraising.

Shares of Bajaj Finance closed 0.09% lower at Rs 7,472.50 apiece as compared with a 0.33% decline in the benchmark S&P BSE Sensex before the announcement.