Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting under SEBI Listing Regulations
Date of Board Meeting / Approval: 1 October 2026
Meeting Duration: Commenced at 20:30 Hrs IST and concluded at 21:00 Hrs IST
Corporate Actions:
Fundraising Initiatives:
The Board of Directors has approved two fundraising proposals:
1. Qualified Institutions Placement (QIP):
- Type of security: Equity Shares of face value of Re. 1 each
- Total amount: Up to ₹11,700 Crore (Rupees Eleven Thousand Seven Hundred Crore only)
- Issuance method: Qualified Institutions Placement to Qualified Institutional Buyers
- Regulatory framework: Chapter VI of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
2. Preferential Issue of Warrants:
- Type of security: Warrants convertible into equivalent number of Equity Shares of face value of Re. 1 each
- Total amount: Up to ₹5,800 Crore (Rupees Five Thousand Eight Hundred Crore only)
- Investor: Bajaj Finserv Limited (promoter and holding company)
- Number of investors: 1 (One)
- Regulatory framework: Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
Warrant Conversion Terms:
- Each warrant is convertible into equivalent number of Equity Shares which are pari passu with existing shares
- Minimum 25% of consideration payable on date of allotment
- Balance 75% payable at time of allotment of Equity Shares upon exercise of warrants
- Exercise period: Eighteen months from date of allotment or such period permitted under SEBI ICDR Regulations
- Forfeiture: If warrants are not exercised within the period, the consideration amount shall stand forfeited by the Company
Next Steps:
- The Company will seek shareholder approval for both proposals by convening an Extraordinary General Meeting
- Both initiatives are subject to regulatory/statutory approvals including Ministry of Corporate Affairs and SEBI approvals
- Compliance with SEBI circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026