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Bajaj Finance Raises INR20 Billion Through Debenture Allotment; Shares Up 3%

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Bajaj Finance (NSE:BAJFINANCE, BOM:500034) has raised around 20 billion Indian rupees through the allotment of non-convertible debentures on a private placement basis.

The company allotted 200,000 non-convertible debentures at a face value of 100,000 rupees each with a coupon rate of 7.92% per annum, according to a Wednesday filing to the Indian stock exchanges.

The debentures are proposed to be listed on the wholesale debt market segment of the BSE, and are scheduled to mature on June 24, 2031.

Shares of the company rose nearly 3% in recent trade.

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