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Bajaj Finance fixes QIP floor price at Rs 4,020 cr

Press Trust of India  |  New Delhi 

Non-banking financial company Bajaj Finance on Monday fixed a floor price of Rs 4,019.78 per share for its qualified institution placement (QIP).

The board of directors, at its meeting on September 17, had approved raising of capital through QIP for an aggregate amount not exceeding Rs 8,500 crore by issue of equity shares.

The "relevant date" for the purpose of the issue is November 4 (Monday) and, accordingly, the floor price in respect of the issue based on the pricing formula is Rs 4,019.78 per equity share, Bajaj Finance said in a regulatory filing.

The company's shares closed at Rs 4,115.95, up 1.14 per cent on the BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, November 04 2019. 21:30 IST