Why Bajaj Finance shares jumps 3% amid ₹17,500-cr capital raise plans
The stock opened at ₹962.55, touched an intraday high of ₹995.80, and was trading well above its previous close of ₹948.30
Shares of Bajaj Finance Limited surged by 3% on Monday, reaching ₹974.60 on the National Stock Exchange, following the company's announcement of a significant capital raise and strong quarterly business performance. The company's board approved raising up to ₹11,700 crore through a Qualified Institutions Placement (QIP) of equity shares and an additional ₹5,800 crore via a preferential issue of convertible warrants, totaling ₹17,500 crore.
This capital raise is subject to shareholder approval at an Extraordinary General Meeting. The company also reported provisional Q2 FY27 metrics, with assets under management growing 26.5% year-on-year to ₹5,84,750 crore and new loans booked increasing by 11% to 13.45 million.
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