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Bajaj Finance issues 5.74 cr warrants to promoter for ₹5,799 cr

Reported by: BusinessLine ·

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Bajaj FinanceBajaj Finserv

Summary

Bajaj Finance has issued 5.74 crore warrants to its promoter, Bajaj Finserv, for ₹5,799 crore. BusinessLine reported the warrants are convertible into shares. Economic Times reported that a special committee of the board approved the issue at ₹1,010 per warrant, and that each warrant can be converted into shares. A warrant is a right to buy shares later at a fixed price; here the promoter pays now for the right to take shares. A promoter is the founding or controlling shareholder of a company. The two outlets agree on the number of warrants and the amount. Neither report says when the conversion can happen or at what price the shares will be issued.

AI summary of what BusinessLine and Economic Times reported. AI can make mistakes. Read the full story on BusinessLine

Learn: What is promoter pledging?

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BusinessLine  · · Tone 0

Bajaj Finance issues 5.74 cr warrants to promoter for ₹5,799 cr

Bajaj Finance approves issuing 5.74 crore warrants to promoter Bajaj Finserv for ₹5,799 crore in New Delhi, convertible into shares

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  • promoter

    Promoters sometimes pledge their shares to borrow money. Learn what that means, why news reports on it, and where pledge details are officially disclosed.

    Learn: What is promoter pledging?

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