Bajaj Finance has launched a qualified institutional placement (QIP) at a floor price of Rs 7,533.81 per share.
The non-banking finance company (NBFC) is likely to raise up to Rs 8,000 crore from the QIP.
The floor price marks a discount of 0.34 per cent to its closing price on the BSE
on Monday where it settled at Rs 7,560.05, a gain of 1.88 per cent or Rs 139.85 over the last close.
The QIP comes just four days after it mobilised almost Rs 1,200 crore by issuing 15.5 lakh warrants to its promoter Bajaj Finserv at a price of Rs 7,670 per warrant.
They will be convertible into equal number of shares within a period of 18 months from the date of allotment.
Bajaj Electricals
Bajaj Electricals on Monday reported a 56 per cent decline in consolidated net profit to Rs 27.28 crore for the September quarter on account of weak consumer demand.
The company had posted a net profit of Rs 62 crore in the July-September period a year ago, according to a regulatory filing.
Net sales declined 3.76 per cent to Rs 1,107.40 crore in the second quarter of the current fiscal against Rs 1,150.77 crore in the year-ago period.
“The company has achieved a stable performance amidst a weak consumer demand sentiment,” chairman Shekhar Bajaj said in an earnings statement.
