Bajaj Finance shares in focus as QIP kicks off; floor price, other details

Shares of Bajaj Finance Ltd are in focus on Thursday after the NBFC's qualified institutional placement (QIP) committee, at a meeting held on November 11, announced the opening of up to Rs 11,700 crore to  $.125 billion issue to eligible qualified institutional buyers (QIBs), in accordance with the SEBI ICDR Regulations.

The proceeds will be utilised for replayment of deposits, loans, commercial papers, non-convertible debentures and interest payments.

The Bajaj Finance board has approved the floor price of Rs 992.25 per equity share, based on the pricing formula prescribed under the SEBI ICDR Regulations. This was at 8 per cent discount to Bajaj Finance's Thursday's closing price of Rs 1,078.80 apiece.

The Bajaj Finance board has also approved the preliminary placement document and the application form to be sent to eligible QIBs via Kotak Mahindra Bank, JPMorgan, IIFL Capital Services, JM Financial, Axis Capital and Morgan Stanley, inviting bids and receiving completed application forms along with application amounts for subscription to the equity shares.

This comes a day after the Bajaj Finance board approved the allotment of 5,74,25,740 warrants to Bajaj Finserv at the issue price of Rs 1,010 per warrant convertible into equivalent number of equity shares of face value of Re 1 each. Bajaj Finance shares are up 12.4 per cent in the past one month.

"The QIP Committee has fixed the ‘relevant date’ for the purpose of the Issue, in terms of Regulation 171(b)(i) of the SEBI ICDR Regulations, as November 11, 2026, and accordingly the Floor Price in respect of the aforesaid Issue, based on the pricing formula as prescribed under Regulation 176(1) of the SEBI ICDR Regulations is Rs 992.25 per Equity Share," Bajaj Finance said.

Bajaj Finance noted that it may offer a discount of up to 5 per cent on the floor price, subject to applicable regulations and shareholder approval. The final issue price will be determined by the company in consultation with the book-running lead managers appointed for the placement.

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."