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

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

"Bajaj Finance Ltd has allotted 26,627,218 equity shares 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 shares 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 Bajaj Finance has reduced by 2.68 per cent or 57.94 per cent to 55.26 per cent," it said.

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