What is on offer: up to Rs 11,700 crore of shares to institutional buyers at a floor price of Rs 992.25.
What the proceeds are for: repaying deposits, loans, commercial paper, debentures and interest.
What is separate: warrants for Bajaj Finserv at Rs 1,010 each.
Where reports differ: the exact reference closing price and the opening date.
What is not stated: the final issue price, the number of shares and the closing date.
A qualified institutions placement, or QIP, is a way for a listed company to raise money by selling shares to institutional buyers, and it is governed by rules of the Securities and Exchange Board of India.
The floor price is Rs 992.25 per equity share, set under the pricing formula in the SEBI regulations, according to Business Today.
Business Today describes the floor price as an 8% discount to the closing price of Rs 1,078.80, and its own arithmetic works out to about 8.02%, so the figure is rounded.
The article calls Rs 1,078.80 Thursday’s closing price although it was published on Thursday morning, so the figure is more likely the Wednesday close, and the report does not say which.
Bajaj Finance said it may offer a discount of not more than 5% on the floor price, subject to applicable rules and shareholder approval, according to Business Today.
The final issue price is to be set by the company together with the book-running lead managers.
The lead managers named in the report are Kotak Mahindra Bank, JPMorgan, IIFL Capital Services, JM Financial, Axis Capital and Morgan Stanley.
Shareholders approved the raise through a special resolution dated November 2, 2026, according to Business Today.
The company said proceeds would be used for repayment of deposits, loans, commercial papers, non-convertible debentures and interest payments, according to Business Today.
Another report says the QIP is part of a broader capital-raising plan approved by the board on October 1, 2026, according to a search summary of Zeebiz coverage.
Indian currency notes (representative image), Wikimedia Commons, CC BY-SA 4.0
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