The non-banking finance company, Bajaj Finance, on 5 October announced its plans to raise Rs 10,000 crore by ways of QIP (qualified institutions placement) and preferential issues of shares.

In its exchange filing, the company said, “The company will be seeking approval of the shareholders for the proposed QIP and PI by convening an Extra Ordinary General Meeting subject to applicable provisions/circulars issued by Ministry of Corporate Affairs from time to time.”

Bajaj Finance will raise Rs 8,800 crore through QIP by issuing shares of face value of Rs 2 each.

The company will raise Rs 1,200 crore through a preferential issue of up to 15.5 lakh warrants that can be convertible into an equivalent number of equity shares to the promoter of the company, Bajaj Finserv, for a total value not exceeding Rs 1,200 crore.

Each warrant can be convertible into an equivalent number of shares of the company within a period of 18 months from the date of allotment.

Earlier, the company had reported some of the key business metrics on a consolidated basis for the July-September quarter, wherein it reported a 26% YoY growth in new loans booked during the quarter at Rs 85.3 lakh crore against the Rs 67.6 lakh crore reported in Q2FY23.