Shares of Bajaj Finance gained as much as 2.23 per cent to Rs 4208.05 apiece on the BSE in the opening deals on Tuesday. The company on Monday launched its Rs 8,500 crore qualified institutional placement (QIP). The shares will be offered in the range between Rs 3,860 and Rs 3,900 apiece.
At 09:28 am, the stock was trading over a per cent higher at Rs 4,159.80 on the BSE. It was trading close to its 52-week high of Rs 4,219.50, touched on October 22. In comparison, the benchmark S&P BSE Sensex was ruling 29 points or 0.07 per cent lower at 40,272.62 levels.
The shares of Bajaj Finance ended Monday's session at Rs 4,116. The offer price is at a discount of 5.2 to 6.2 per cent to the closing price on Monday. The share sale will help Bajaj Finance expand its lending at a time when non-banking finance companies (NBFCs) sector is plagued by a liquidity crisis.
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