Bajaj Finance shares close 3% higher amid Rs 11,700-crore QIP issue

Bajaj Finance Ltd has opened a qualified institutional placement (QIP) to raise capital from eligible institutional investors, setting the floor price at Rs 992.25 per equity share. The company aims to raise Rs 11,700 crore from the QIP. The development comes as the company's shares ended Thursday's session higher at Rs 1,110.70, putting the QIP floor price below the stock's closing level.

The company's QIP committee approved the opening of the issue on November 11, following the board's approval on October 1 and a special resolution passed by shareholders on November 2. The floor price of Rs 992.25 per share has been determined in accordance with the pricing formula prescribed under the Securities and Exchange Board of India (SEBI) regulations.

Bajaj Finance shares closed at Rs 1,110.70 on Thursday, gaining 3.32% from their previous close of Rs 1,075. The stock opened at Rs 1,080 and touched a high of Rs 1,117.80 during the session, while the day's low stood at Rs 1,077.

Bajaj Finance QIP: What investors should know

The company said it may offer a discount of up to 5% on the floor price, subject to the applicable regulatory provisions and shareholder approval. This means the final issue price could be lower than the announced floor price. However, the actual price will be decided by the company in consultation with the book-running lead managers appointed for the issue.

Bajaj Finance said: "pursuant to Regulation 176(1) of the SEBI ICDR Regulations and the approval of the shareholders, accorded through a special resolution dated November 2, 2026, the company may offer a discount of not more than 5 per cent on the floor price so calculated for the Issue."

Bajaj Finance has approved the preliminary placement document and application form dated November 11, which will be circulated to eligible qualified institutional buyers invited to participate in the issue. The company will also submit the preliminary placement document to the BSE and the National Stock Exchange.