India's Bajaj Finance approves $1.2 bln fundraise (updated)

Bajaj Finserv

05/10/2023 11:23

(Updates with details)
       BENGALURU, Oct 5 (Reuters) - Indian non-bank lender
Bajaj Finance  BJFN.NS  has approved raising of up to 100
billion rupees ($1.20 billion), the company said in an exchange
filing on Thursday.
    The company said it will raise up to 88 billion rupees of
capital through qualified institutional placement of shares.
        It will raise the remaining 12 billion rupees through a
preferential issue of warrants convertible into shares, to be
issued to its largest shareholder Bajaj Finserv  BJFS.NS .
  

($1 = 83.2397 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru; Editing by Sohini
Goswami)
 ((varunvyas.hebbalalu@thomsonreuters.com;))