Bajaj Finance Ltd. announced the opening of its Qualified Institutional Placement (QIP) on November 11, aiming to raise a significant Rs 11,700 crore from eligible institutional investors. This development follows board approval on October 1 and a special resolution passed by shareholders on November 2, 2026.
The floor price for the QIP has been set at Rs 992.25 per equity share, determined in accordance with pricing formulas prescribed by the Securities and Exchange Board of India (SEBI) regulations. Notably, the company's shares closed higher on Thursday at Rs 1,110.70, a 3.32% gain from its previous close of Rs 1,075, placing the QIP floor price below the prevailing market rate.
QIP Details and Potential Discount
The company has approved a preliminary placement document and application form, which will be circulated to qualified institutional buyers invited to participate. These documents will also be submitted to the BSE and National Stock Exchange.
Bajaj Finance has indicated that it may offer a discount of up to 5% on the calculated floor price, subject to regulatory provisions and shareholder approval. This provision allows for flexibility in the final issue price, which will be determined in consultation with the book-running lead managers appointed for the QIP.
Share Performance on Opening Day
On Thursday, Bajaj Finance shares opened at Rs 1,080 and reached an intraday high of Rs 1,117.80. The stock’s strong close at Rs 1,110.70 underscores investor confidence as the company moves forward with its substantial capital-raising initiative.