Bajaj Finance QIP plans are gaining attention as the non-banking financial company (NBFC) may launch a qualified institutional placement (QIP) worth up to ₹11,700 crore to strengthen its capital base and support future business expansion. The proposed share sale is expected to be offered at a small discount to the prevailing market price, according to a CNBC-TV18 report. The development comes shortly after the company completed a separate ₹5,800 crore warrant allotment to its promoter, Bajaj Finserv.
Bajaj Finance Shares Trade Higher Following Fundraising Update
Shares of Bajaj Finance were trading higher following reports of the proposed institutional fundraising. On November 11, the stock was up around 0.7% at ₹1,072.35 during afternoon trading.
The company’s shares have gained approximately 10.2% so far in 2026, outperforming the benchmark Nifty 50, which has declined around 3.3% during the same period. Bajaj Finance’s market capitalisation stood at approximately ₹6.67 lakh crore.
The proposed QIP is expected to attract participation from qualified institutional buyers (QIBs). While the final issue price and launch details are yet to be announced, the reported plan to offer shares at a modest discount could be an important factor for institutional investors evaluating the issue.
₹17,500 Crore Fundraising Plan: QIP and Warrants
The proposed ₹11,700 crore QIP is part of a larger fundraising programme of up to ₹17,500 crore approved by Bajaj Finance’s board on October 1, 2026.
The capital-raising programme has two components:
- Qualified Institutional Placement: The company plans to raise up to ₹11,700 crore through the issuance of equity shares to qualified institutional buyers.
- Preferential Warrant Issue: Bajaj Finance has planned to raise up to ₹5,800 crore through convertible warrants issued to its promoter and holding company, Bajaj Finserv.
On November 10, Bajaj Finance approved the allotment of approximately 5.74 crore convertible warrants to Bajaj Finserv at ₹1,010 per warrant. The total value of the allotment is nearly ₹5,800 crore.
Each warrant can be converted into one equity share. Under the issue terms, Bajaj Finserv is required to pay 25% of the consideration at the time of allotment, while the remaining 75% will be payable when the warrants are converted into equity shares.
The proposed fundraising programme is subject to applicable regulatory and statutory requirements, including shareholder approval.
Why Is Bajaj Finance Raising Additional Capital?
The additional capital is intended to strengthen the company’s financial position and provide resources for its expanding lending operations.
Bajaj Finance has been witnessing consistent growth in its assets under management (AUM), customer base and loan disbursements. As its lending business expands, maintaining adequate capital becomes important to support higher credit demand, manage financial risks and meet regulatory capital requirements.
The company’s latest financial performance also highlights the scale of its business expansion.
For the second quarter of FY27, Bajaj Finance reported a 29% year-on-year increase in consolidated net profit to ₹6,367 crore. Its net interest income (NII) increased 24% to ₹13,335 crore during the quarter.
The company’s AUM grew 26% year-on-year to ₹5.85 lakh crore as of September 30, 2026. During the quarter, it added ₹37,680 crore to its AUM and booked 13.45 million new loans, reflecting an 11% increase compared with the corresponding period last year.
These numbers indicate continued growth in the company’s lending operations and provide context for its decision to strengthen its capital base.
Bajaj Finance Sets Growth Targets for FY27
Bajaj Finance has outlined ambitious business expansion targets for FY27. The company expects its AUM to grow between 26% and 27% during the financial year.
It is also targeting 60–62 million new loan bookings and expects to add 18–20 million customers during FY27.
The company’s capital adequacy ratio (CAR), including Tier-II capital, stood at 20.33% at the end of September 2026. Its Tier-I capital ratio was 19.43%.
Asset quality indicators also showed improvement. Gross non-performing assets (GNPA) declined to 1.06%, compared with 1.24% in the year-ago period. Net non-performing assets (NNPA) improved to 0.42% from 0.60%.
These financial indicators highlight the company’s current capital position and asset quality as it prepares for another phase of expansion.
First Major Equity Fundraise Since 2023
The proposed ₹17,500 crore fundraising programme will be Bajaj Finance’s first major equity capital raise since November 2023.
In 2023, the company raised ₹10,000 crore through a combination of institutional share issuance and promoter warrants. The latest proposal reflects its continued focus on maintaining sufficient capital to support business growth.
With the proposed QIP of ₹11,700 crore and the ₹5,800 crore warrant issue, Bajaj Finance is looking to strengthen its financial resources while expanding its lending operations.
The proposed institutional placement, its final pricing and the participation of investors will remain key developments to watch as the company moves ahead with its fundraising plans.
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