Bajaj Finance allots NCDs worth Rs 5,306.57 crore on private placement
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Bajaj Finance has allotted 5,30,500 secured NCDs of face value Rs 1 lakh each, aggregating Rs 5,306.57 crore, on private placement basis. Option I: 4 lakh NCDs at 7.70 percent p.a. for 1172 days, maturing Sept 2029. Option II: 1.3 lakh NCDs at 7.79 percent p.a. for 3651 days, maturing July 2036. Debentures are secured by first pari-passu charge on book debts and will be listed on BSE Wholesale Debt Market.
Raises Rs 5,306 crore via debt to fund lending growth. No equity dilution as NCDs are non-convertible. Equity holders unaffected by coupon payments.