In a notable move, Bajaj Finance saw its shares surge by 1.9% in trading, as the financial services giant issued 15.5 lakh warrants to its promoter, Bajaj Finserv, for a total consideration of Rs 1,188.85 crore.
The company’s board approved the issuance of these warrants at a price of Rs 7,670 each. These warrants are convertible into equivalent equity shares, with a face value of Rs 2 per share. Notably, the warrants were issued at a premium of 2.65% compared to Bajaj Finance’s closing price of Rs 7,670 on November 1.
As of 12.20 pm, shares of Bajaj Finance were trading at Rs 7,489.10 per share on the NSE, marking a 0.23% increase from the previous session’s closing price. Conversely, Bajaj Finserv’s stock saw a marginal decline of 0.31%, trading at Rs 1,568.05.
Shareholding and Stock Price Trends
Over the past six months, Bajaj Finance’s shares have shown significant growth, rising by approximately 20%, compared to the Nifty 50 index, which has experienced a 5.22% increase. The company currently boasts a market capitalization of Rs 4.5 lakh crore.
Promoter shareholding remained unchanged in the most recent quarter, standing at 55.87%. Foreign Institutional Investors (FIIs) increased their holdings from 16.68% in the June quarter to 17.01% in the quarter ending in September. Domestic Institutional Investors (DIIs) held 16.5% of the company, with mutual funds accounting for 9.1% of this share. The number of mutual fund schemes remained stable at 40. Public shareholding in the company stands at 10.5%.
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