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It marks the first equity fundraising by the country's largest non-banking financial company (NBFC) since its similar ₹10,000 crore capital raise in November 2023. In a late-night notice to the stock exchanges on Thursday, Bajaj Finance said the company's board of directors had approved raising ₹11,700 crore through a QIP and ₹5,800 crore through the issue of warrants via a preferential allotment to promoter Bajaj Finserv. Issuing warrants to the holding company, Bajaj Finserv, will help the largest promoter group maintain its 51.30% stake in the NBFC. Additionally, the promoter's skin in the game boosts market sentiment, giving institutional investors the confidence to increase their stakes in the company. Read more: Nifty valuations near post-Covid lows. Alchemy Capital’s Alok Agarwal explains what investors should buy now "Bajaj Finance has always raised money every 2.5 to three years to generate capital for its immediate growth. The size of the proposed capital raise is large but still relatively modest compared to the size of the company's loan book, which is more than ₹5 lakh crore," said an analyst with a private sector brokerage, who did not wish to be identified. "Assuming it is leveraged five to six times, this will mean an infusion of more than ₹1 lakh crore in capital into the company." Read more: Market crash wipes out Rs 26 lakh cr in 8 weeks! Why soaring bond yields may hurt Sensex, Nifty more than elevated oil prices At the end of June, Bajaj Finance had reported consolidated assets under management (AUM) of ₹5.47 lakh crore, up 24% from ₹4.41 lakh crore a year ago. The company added ₹36,969 crore in AUM during the quarter, largely due to strong loan growth. Consolidated net profit increased 27% year-on-year to ₹5,986 crore during the quarter. The capital adequacy ratio was reported at 21% as of June 30. The company's shares ended at ₹949.35 apiece on the BSE on Thursday, down 1.24% from the previous close. The markets were shut on Friday on account of Mahatma Gandhi Jayanti. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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