Bajaj Finance launches ₹11,700 crore share offering at 5% discount

Bajaj Finance has launched a qualified institutional placement (QIP) to raise ₹11,700 crore, offering shares at ₹1,025 per unit—a 5 per cent discount to the previous closing price. The indicative issue price sits above the floor price mandated by market regulator Securities and Exchange Board of India (Sebi), positioning the offering competitively within regulatory parameters.

The NBFC intends to deploy the capital proceeds toward repaying existing borrowings and meeting general corporate requirements, according to the company's filing. This capital-raising exercise comes as the company seeks to optimize its liability structure and fund ongoing operational needs.

QIPs allow companies to raise capital from institutional investors without going through a public subscription process, streamlining the fundraising timeline. The mechanism has gained traction among larger financial services firms looking to bolster equity capital efficiently.

Bajaj Finance's move reflects broader market confidence in the shadow banking sector, even as non-banking financial companies navigate a competitive lending environment. The company's ability to execute a sizable QIP at a relatively modest discount underscores investor appetite for established NBFC players with strong track records.