Bajaj Finance will look to issue its qualified Institutional placement (QIP) next week, according to a CNBC-TV18 flash.
The size of the QIP is reportedly about Rs 8,500 crore and its price band is likely to be between Rs 3,810–3,900 per share. Five to six domestic and foreign bankers have been appointed for the issue of the QIP.
Bajaj Finance posted a net profit growth of 63 percent year-on-year (YoY) on robust loan growth, better margins, controlled expenses and lower taxes in the second quarter of FY20.
The business performance of Bajaj Finance continues to be strong despite macro headwinds such as slowing growth, tight liquidity and rising competition.[“source=moneycontrol”]