Bajaj Finance allots 5.74 crore warrants to Bajaj Finserv
In short
Bajaj Finance has allotted 5.74 crore warrants to promoter Bajaj Finserv for ₹5,799 crore. The issue price is ₹1,010 per warrant, and each warrant can later be turned into one equity share.
What the reporting says
Bajaj Finance allotted 5.74 crore warrants to its promoter Bajaj Finserv for ₹5,799 crore, with the special committee of the board approving the issue at ₹1,010 per warrant. Each warrant can be converted into an equivalent number of equity shares. The company said 25% of the consideration is payable at allotment, while the remaining 75% is payable later.
Why it matters
Bajaj Finance issued 5.74 crore warrants to promoter Bajaj Finserv for ₹5,799 crore after approval by a special committee of the board. The warrants are priced at ₹1,010 each and can be converted into shares. The structure requires 25% payment upfront and the rest later, linking the promoter’s funding commitment to the company’s equity base.