Bajaj Finance had at its November 1 meeting approved the issue of 15,50,000 warrants to the promoter, at an issue price of Rs 7,670 per warrant, for an amount aggregating to Rs 1,188.85 crore
The company may offer a discount of up to 5 percent on the floor price. The NBFC had on October 5 announced that it would be looking for Rs 10,000 crore fundraise.
Last month, the non-bank finance major received board approval for raising up to Rs 10,000 crore through qualified institutional placement issue and convertible warrants. The company plans to raise up to Rs 8,800 crore through the QIP issue, and Rs 1,200 crore via convertible warrants issue to promoter Bajaj Finserv.
Earlier this month, Bajaj Finance had raised Rs 1,195 crore through the allotment of 7.85 percent per annum secured redeemable Non-Convertible Debentures (NCDs). It had raised close to Rs 1,700 crore via NCDs in May as well.