Bajaj Fin up 3% as nod for Rs10,000 cr fund raise; here's what analysts say

This capital raise could then be a tacit acknowledgment that Bajaj Finance is readying its capital ammunition for how the competitive landscape is going to evolve over next few years, said analyst.

Shares of Bajaj Finance hit a record high of Rs 8,122, gaining 3.5 per cent on the BSE in Friday’s intra-day trade after the non-banking financial company on Thursday received its board’s approval to raise Rs 10,000 crore capital through qualified institutions placement (QIP) and the preferential issue of shares.

The board approved capital raising of around Rs 10,000 crore, which includes raising Rs 8,800 crores through QIP route. Further, the board also approved preferential issue of up to 1.55 million warrants convertible into equivalent number of equity shares to the promoter, Bajaj Finserv for an aggregate amount not