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Bajaj Finance to sell over 2.6 crore shares to QIBs

LiveMint logoLiveMint 14-09-2017 PTI

New Delhi: Bajaj Finance Ltd has allotted over 2.6 crore shares to qualified institutional buyers (QIBs), fetching over Rs5,044 crore.

“Bajaj Finance Ltd has allotted 26,627,218 equity shares of face value of Rs2 each to qualified institutional buyers on 12 September 2017,” the company said in a regulatory filing.

Calculated on 12 September closing price of Rs1,894.35 per share of Bajaj Finance, the valuation of the deal comes at around Rs5,044.13 crore. Further, the company said there is no change in shares held by its parent Bajaj Finserv and persons acting in concert (PAC) i.e., promoter and promoter group.

“However, due to the above allotment to QIBs, the shareholding percentage of Bajaj Finserv and PAC in Bajaj Finance has reduced by 2.68% or 57.94% to 55.26%,” it said.

Shares of Bajaj Finance closed 0.43% up at Rs 1,913.75 on BSE on Thursday.

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