'This is to inform that the Life Insurance Corporation of India has subscribed 512,000 number of debentures of Face Value of Rs. 100,000/- each amounting to Rs. 5120 crores of Bajaj Finance Limited'.
LICI · price
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LIC has subscribed to 512,000 debentures of Bajaj Finance Limited at a face value of Rs. 100,000 each, totalling Rs. 5,120 crores. This is a debt investment where LIC, as an institutional investor, is deploying policyholder funds into Bajaj Finance's non-convertible debentures (NCDs). Such large subscriptions are typically part of LIC's regular investment activity. The debentures are likely to carry a fixed coupon rate paid periodically.
This signals LIC's confidence in Bajaj Finance's credit quality and helps Bajaj Finance raise long-term funds. For LIC, it represents deployment of insurance funds into a high-rated private sector NBFC, likely earning a fixed return. No immediate material impact on LIC's stock price is expected.