Bajaj Finance issues 1.55m shares after warrant conversion

Bajaj Finance (BSE: 500034) announced the allotment of 1,550,000 equity shares after the conversion of warrants on a preferential basis. The warrants were initially allotted to Bajaj Finserv Limited, the promoter and holding company, as part of an issuance approved by shareholders. The issue price for each warrant was ₹7,670. Bajaj Finserv had already paid 25% of the consideration at the time of subscription and has now remitted the remaining 75%, totaling ₹891.64 crore. This issuance was conducted under the framework of SEBI regulations. Post conversion, Bajaj Finserv Limited's shareholding in Bajaj Finance has slightly increased.