Bajaj Finance stock jumps as $1.2bn QIP wins board nod

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By Jonathan Breen
18 Sep 2019

Bajaj Finance’s share price surged on Wednesday after the Indian non-bank lender’s board of directors approved a potential billion-dollar fundraising.

Bajaj Finance, a non-banking finance company (NBFC), secured the greenlight from its board on Tuesday for a qualified institutional placement of up to Rp85bn ($1.2bn).

In response, the lender’s stock jumped 2.6% within the first hour of trading on Wednesday. By noon in Mumbai, it had pared some ...

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