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Last Updated : Sep 05, 2019 04:23 PM IST | Source: Moneycontrol.com

Bajaj Finance gains on allotment of NCDs; eyes $1 billion share sale by year-end

Bajaj Finance in its BSE release said that the Debenture Allotment Committee has allotted NCDs worth Rs 1,400 crore via private placement.

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Shares of financial services major Bajaj Finance gained over 1 percent on September 5. The gains could have been aided by a Rs 1,400 crore debenture allotment via private placement and media reports suggesting the company has identified three banks for a $1 billion share sale.

In a release to the BSE, the company said the Debenture Allotment Committee has allotted 14,000 Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each amounting to Rs 1,400 crore.

CNBC-TV18 reported that Bajaj Finance has picked three banks including Nomura Holdings, Kotak Mahindra Bank and JM Financial to arrange a share sale of about $1 billion.

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A Bloomberg report had also earlier pointed out that Bajaj Finance plans to sell shares by December as a safeguard against the liquidity crunch plaguing the sector, and may add more arrangers for the same.

Bajaj Finance has so far been able to escape the NBFC crisis that rattled all major players from the IL&FS Group to Dewan Housing Finance Corp over the past year.

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First Published on Sep 5, 2019 04:23 pm
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