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Bajaj Finance Shares Plunge 5% on Capital Raise Plans; Board to Meet October 1
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CNBC TV18•24-09-2026, 12:06
Bajaj Finance Shares Plunge 5% on Capital Raise Plans; Board to Meet October 1
- •Bajaj Finance shares dropped 5% after announcing plans to seek shareholder approval for a potential capital raise.
- •The company's Board of Directors will convene on October 1 to consider various capital raising options, including a preferential issue and Qualified Institutions Placement (QIP).
- •Jefferies maintains a 'Buy' rating on Bajaj Finance with a price target of ’1,280, citing manageable leverage and strong loan growth.
- •Jefferies estimates a potential fundraise of around ’15,000 crore, which could increase FY28 estimated EPS by 1% and book value per share by 7%.
- •The brokerage suggests factors like strong loan growth, monetisation of Bajaj Housing Finance stake, and planned management succession may be driving the capital raise.
Key Questions Answered
Shares of Bajaj Finance fell about 5% after the company announced plans to seek shareholder approval for a potential capital raise through options like a preferential issue and qualified institutions placement.
The Bajaj Finance Board of Directors is scheduled to meet on Thursday, October 1, to consider a proposal to raise fresh capital through permitted routes.
Global brokerage firm Jefferies maintains a 'Buy' recommendation on Bajaj Finance with a price target of ₹1,280 per share.
