Bajaj Finance moves up on raising Rs 1,670.19 crore via NCDs
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Bajaj Finance is currently trading at Rs. 6817.00, up by 38.25 points or 0.56% from its previous closing of Rs. 6778.75 on the BSE.
The scrip opened at Rs. 6775.00 and has touched a high and low of Rs. 6848.00 and Rs. 6740.00 respectively. So far 9379 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 7777.00 on 22-Sep-2022 and a 52 week low of Rs. 5235.60 on 17-Jun-2022.
Last one week high and low of the scrip stood at Rs. 6869.25 and Rs. 6713.25 respectively. The current market cap of the company is Rs. 412721.11 crore.
The promoters holding in the company stood at 55.91%, while Institutions and Non-Institutions held 32.15% and 11.93% respectively.
Bajaj Finance has raised Rs 1,670.19 crore through the allotment of 16,550 Secured Redeemable Non-Convertible Debentures (NCDs) at the face value of Rs 10 lakh each on Private Placement Basis.
Objects of this issue including green shoe option, if any, is to augment the long term resources of the company. The funds raised through this issue will be utilized for general business purpose of the company including various financing activities, to repay its existing loans, investments for liquidity and statutory requirements, capital expenditure and working capital requirements. The Debenture Allotment Committee of the Company at its meeting held on May 23, 2023, has allotted the same.
Bajaj Finance, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market catering to more than 40 million customers across the country.
