Financial services provider Bajaj Finance expects to launch a share sale to qualified institutions to raise as much as Rs 360 crore (USD 80.5 million) in the September quarter, its chief executive officer told Reuters on Wednesday.
The non-banking finance company plans to raise up to Rs 750 crore, including through an issue of warrants on preferential basis to its founders, to support growth and shore up its capital base, Rajiv Jain said over the telephone from Pune.JM Financial and IIFL Capital are the managers to the issue."We'd like to raise the funds sooner than later," Jain said. "Underlying performance of the company is very strong. Our portfolio, asset quality is strong so we should be able to generate reasonable investor interest."Earlier in the day, Bajaj Finance said June quarter net profit nearly doubled on higher income from operations, sending its shares up as much as 15.3%. ($1 = 44.705 Indian Rupees) 
