Its promoter and holding company, Bajaj Finserv Limited, is the proposed allottee. The board approved the proposal at its meeting on 1 October 2026.
The warrant issue is one of two proposals the board cleared. The other is a Qualified Institutions Placement (QIP) of up to ₹11,700 crore. Together, they could raise up to ₹17,500 crore.
Under the QIP, Bajaj Finance will issue equity shares with a face value of ₹1 each to Qualified Institutional Buyers.
The second proposal is a preferential issue of warrants convertible into an equivalent number of equity shares of ₹1 face value each. Bajaj Finserv will be the only investor. The issue price will be determined at a later stage in accordance with applicable law.
At least 25% of the consideration will be payable on the date of allotment. The remaining 75% will be payable when equity shares are allotted on exercise of the options against the warrants, in accordance with the SEBI ICDR Regulations.
Each warrant will be convertible into an equivalent number of equity shares. The shares issued on conversion will rank pari-passu with Bajaj Finance’s fully paid-up equity shares.Bajaj Finance will seek shareholder approval for both the QIP and the preferential issue by convening an Extraordinary General Meeting.