India’s Bajaj Finance launched a more than $1 billion share sale to institutional investors on Wednesday, setting the floor price at 992.25 rupees apiece.
The non-bank lender in October approved raising up to 117 billion rupees ($1.25 billion) through a qualified institutional placement.
The fundraise will help Bajaj Finance, one of the country’s biggest non-bank lenders, expand amid strong credit demand in India.
Bajaj Finance’s assets under management grew 26% year-on-year in the September quarter, the fastest pace since the March 2025 quarter.
A day earlier, the company approved the issuance of warrants worth up to 58 billion rupees to its holding company, Bajaj Finserv BJFS.NS.
Bajaj Finance’s capital adequacy ratio stood at 20.33% as of September-end, down from 20.90% three months earlier and 21.23% a year ago.
The company’s shares ended 1.3% higher on Wednesday. They are up 9% so far in 2026, supported by a recent rally in broader markets on easing crude oil prices and optimism over foreign inflows. The Nifty 50 index .NSEI is down around 3% this year.
($1 = 93.7475 Indian rupees)
Reuters
