Bajaj Finance rises on inking agreement to acquire 7% stake in RMBS Development Company
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Bajaj Finance is currently trading at Rs. 6647.10, up by 41.20 points or 0.62% from its previous closing of Rs. 6605.90 on the BSE.
The scrip opened at Rs. 6669.95 and has touched a high and low of Rs. 6697.00 and Rs. 6535.15 respectively. So far 37725 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 8190.00 on 06-Oct-2023 and a 52 week low of Rs. 5487.25 on 20-Mar-2023.
Last one week high and low of the scrip stood at Rs. 6920.20 and Rs. 6535.15 respectively. The current market cap of the company is Rs. 410085.06 crore.
The promoters holding in the company stood at 54.78%, while Institutions and Non-Institutions held 35.00% and 10.22% respectively.
Bajaj Finance (BFL) has entered into a Securities Subscription Agreement /Shareholders’ Agreement on February 2 , 2024 to acquire 7% stake (fully diluted basis) in RMBS Development Company. The acquisition is an opportunity for the Company and its wholly owned subsidiary i.e., to penetrate and support in developing Residential Mortgaged-Backed Securities (RMBS) market. The acquisition will be completed on or before end of March 2024.
Bajaj Finance, the lending company of Bajaj Finserv group, is one of the most diversified NBFCs in the Indian market.
