Bajaj Finance board to mull fundraising via preferential issue, QIP on October 5
Bajaj Finance Ltd will meet on October 5 to consider and approve fundraising through equity instruments.
Among the various options, the board will consider preferential issue of shares or qualified institutional placement issue, it said in a regulatory filing.
However, the company did not mention the amount it plans to raise and the utilisation of the same.
Bajaj Finance had a liquidity buffer of Rs 12,704 crore as of June- end. The capital adequacy remained strong at 24.61% as of June 30, with tier-1 capital at 23.01%.
In the June quarter, the non-bank finance major added the highest-ever new customers of 3.84 million to its franchise, and said it was confident of adding 12-13 million new customers in FY24.
In the last quarter, it added 95 new locations, with the geographic presence standing at 3,828 locations and over 167,000 active distribution points.
The company’s deposits book grew 46% on year in the quarter gone by, and stood at Rs 49,944 crore.
Deposits contributed to 21% of the consolidated borrowings.
On Friday, shares of Bajaj Finance ended 0.2% down at Rs 7,471.35. So far in 2023, the stock has net gained around 14%, outperforming the Nifty 50, which has gained 9% in the same period.
