In 2015, Bajaj Finance had raised Rs1,400 crore through a QIP managed by JM Financial. Mumbai: Bajaj Finance Ltd has hired three investment banks and started work on a qualified institutional placement (QIP) to raise around $700 million (Rs4,500 crore), two people aware of the development said. “Bajaj Finance has hired investment banks JM Financial, Kotak Mahindra Capital and Goldman Sachs to manage its institutional share sale. The second person cited above said Bajaj Finance should be able to easily raise the upper limit of $700 million set by the company’s board. Bajaj Finance is seeking shareholder consent through a postal ballot, which closes on 24 August.

Source: Mint August 13, 2017 20:03 UTC