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Bajaj Finance sells over 26 mn shares to QIBs

Shares of Bajaj Finance closed 0.43% up at Rs 1,913.75 on BSE today

Press Trust of India  |  New Delhi 

Bajaj Finance sells over 26 mn shares to QIBs

Ltd has allotted over 2.6 crore to qualified institutional buyers (QIBs), fetching over Rs 5,044 crore.

"Ltd has allotted 26,627,218 equity of face value of Rs 2 each to qualified institutional buyers on September 12, 2017," the company said in a regulatory filing.

Calculated on September 12 closing price of Rs 1,894.35 per share of Bajaj Finance, the valuation of the deal comes at around Rs 5,044.13 crore.

Further, the company said there is no change in held by its parent Bajaj Finserv and persons acting in concert (PAC) i.e., promoter and promoter group.

"However, due to the above allotment to QIBs, the shareholding percentage of Bajaj Finserv and PAC in has reduced by 2.68 per cent or 57.94 per cent to 55.26 per cent," it said.

of closed 0.43 per cent up at Rs 1,913.75 on BSE today.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, September 14 2017. 23:27 IST