Shares of Bajaj Finance and Bajaj Finserv were trading 1.9% and 1.2% above on 2 November after the financial service giant issued 15.5 lakh warrants to Bajaj Finserv for a total of Rs 1,188.85 crore. 

The Board of Directors of Bajaj Finance had issued the warrant for a price of Rs 7,670 per warrant. The warrants are convertible to equivalent equity shares that will have a face value of Rs 2 each.

The warrants issued are at a premium of 2.65% from the company’s closing price on 1 November. 

Over a period of six months, the shares of Bajaj Finance have gained over 20% against the 5.22% of the Nifty 50 index. 

According to the recent shareholding pattern, the promoter of the company holds 55.87% state in the company. FIIs (foreign institutional investors) hold a 17.01% stake in the company, whereas DIIs (domestic Institutional investors) hold a 16.5% share in the company, and the public holds a 10.5% stake in the company. 

At 3:30 pm, the shares of Bajaj Finance had shed all their early gains and closed 0.04% below at Rs 7,469 on NSE.