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Bajaj Finance calls EGM to approve ₹5,800 Cr warrant issuance to promoter and proposed QIP
Bajaj Finance has issued an EGM notice for November 2, 2026, seeking shareholder approval for capital-raising initiatives. This includes a preferential issue of up to 5,75,25,985 convertible warrants to promoter Bajaj Finserv Limited for up to ₹5,800 crore. The warrants require 25% upfront payment with conversion exercisable within 18 months. The company is also seeking approval for an equity fundraise via Qualified Institutions Placement (QIP), with 80% earmarked for repayment and up to 20% (up to ₹2,340 crore) for general corporate purposes.
Confidence: HIGH
What changedBajaj Finance formally initiated the shareholder approval process for raising capital via preferential warrants to its promoter and an institutional equity offering (QIP).
Why it mattersThe ₹5,800 crore promoter capital infusion reinforces promoter commitment and bolsters Tier-1 capital to support the NBFC's targeted 24-26% asset growth and expansion plans.
Preferential issue size: Rs. 5,800 CrorePreferential warrants count: 5,75,25,985Preferential size vs Net Worth: ~5.6%General Corporate Purpose cap (QIP): Up to 2,340EGM Date: 2 November 2026
📅 Short termMarket sentiment is likely to view promoter equity commitment favorably ahead of the November 2, 2026 EGM.
📈 Long termProvides strong balance sheet cushioning and funding to sustain high retail loan growth, gold loan branch conversions, and FinAI investments over the next 18-24 months.
⚠ Risk flags
- Equity dilution from warrant exercise and QIP issuance
- Subject to shareholder approval at the EGM
Key Highlights
Preferential issuance of up to 5,75,25,985 warrants to promoter Bajaj Finserv Limited
Aggregate consideration for preferential warrants capped at up to ₹5,800 crore
25% consideration payable upfront upon warrant allotment, balance 75% on equity conversion within 18 months
Separate QIP proposal where up to 20% (up to ₹2,340 crore) of net proceeds is earmarked for general corporate purposes and 80% for repayment
Extraordinary General Meeting scheduled for Monday, November 2, 2026 via video conferencing
👀 What to Watch
Track shareholder voting results from the EGM on November 2, 2026, and subsequent pricing/allotment announcements regarding the warrant issue and QIP timeline.
AUM Grows 26.5% YoY to ₹5,84,750 Cr in Q2 FY27 Quarterly Update
Bajaj Finance reported provisional quarterly operational updates for Q2 FY27. Assets under management (AUM) grew by 26.5% YoY to approximately ₹584,750 crore, adding ₹37,800 crore sequentially during the quarter. The customer franchise expanded to 128.85 million, adding 4.42 million customers in Q2 FY27 compared to 110.64 million a year ago. New loans booked rose 11% YoY to 13.45 million, with the company noting that YoY volume growth is not directly comparable due to an early festive season in the previous year. The deposits book stood at approximately ₹69,750 crore as of 30 September 2026.
Confidence: HIGH
What changedBajaj Finance disclosed its provisional Q2 FY27 operational performance metrics ahead of full quarterly earnings.
Why it mattersAUM expansion at 26.5% YoY aligns with management's guided growth range of 24-26%, demonstrating resilient retail credit demand despite shifting festive season timing.
AUM as of Sep 30, 2026: ₹ 584,750 croreAUM YoY growth: 26.5%Customer Franchise: 128.85 millionNew Loans Booked: 13.45 millionDeposits Book: ₹ 69,750 crore
📅 Short termSets an upbeat tone ahead of the Q2 earnings season as operational volumes and customer additions maintain strong double-digit momentum.
📈 Long termValidates steady business execution across diversified loan verticals, supporting Bajaj Finance's scale-up targets and market leadership in consumer and retail lending.
⚠ Risk flags
- Figures are provisional and subject to statutory audit review
- Underlying asset quality and credit cost trends remain undisclosed until the full earnings release
Key Highlights
AUM grew 26.5% YoY to approximately ₹5,84,750 crore (up ₹37,800 crore QoQ)
Customer franchise stood at 128.85 million, up by 4.42 million during Q2 FY27
New loans booked rose 11% YoY to 13.45 million vs 12.17 million in Q2 FY26
Deposits book stood at approximately ₹69,750 crore as of 30 September 2026
👀 What to Watch
Track the full Q2 FY27 financial results release for net interest margins (NIMs), asset quality metrics, and credit costs to assess profitability alongside this AUM growth.
Bajaj Finance Board Approves Up to Rs 17,500 Cr Fundraise via QIP and Promoter Warrants
Bajaj Finance's Board has approved raising up to Rs 11,700 crore through a Qualified Institutions Placement (QIP) of equity shares of face value Re 1 each. Additionally, the Board approved a preferential issue of convertible warrants to parent company Bajaj Finserv Limited for up to Rs 5,800 crore. Total proposed capital raise stands at Rs 17,500 crore, which represents approximately 17.0% of the company's net worth (Rs 1,03,123 crore) and 2.9% of its current market cap. The issues remain subject to shareholder approval via an upcoming Extra Ordinary General Meeting.
Confidence: HIGH
What changedBoard approved raising up to Rs 17,500 crore through a combination of QIP (Rs 11,700 cr) and promoter warrants (Rs 5,800 cr).
Why it mattersProvides substantial capital adequacy to fund the company's 24-26% targeted growth, branch network additions (900 branches by March 2027), and absorbs credit costs without straining leverage.
QIP Size: Rs 11,700 CrorePreferential Warrant Size: Rs 5,800 CroreTotal Fundraise: Rs 17,500 CroreFundraise vs Net Worth: ~17.0%Fundraise vs Market Cap: ~2.9%
📅 Short termFocus will shift to shareholder approval via EGM, pricing formula, and institutional demand during the QIP opening.
📈 Long termSignificantly strengthens Tier-1 capital adequacy and balance sheet flexibility, supporting planned loan-book expansion into newer verticals and branches over the next 2-3 years.
⚠ Risk flags
- Minor equity dilution for existing public shareholders from the QIP and warrant conversion
- Risk of warrant forfeiture if the balance 75% consideration is not exercised within 18 months
Key Highlights
Board approved QIP of equity shares for an aggregate amount not exceeding Rs 11,700 crore
Preferential allotment of convertible warrants to promoter Bajaj Finserv Limited for up to Rs 5,800 crore
25% consideration payable upfront upon warrant allotment, balance 75% payable on equity share conversion within 18 months
Combined capital raise of up to Rs 17,500 crore represents ~17.0% of net worth of Rs 1,03,123 crore
👀 What to Watch
Track the upcoming EGM notice for shareholder approval, issue floor price determination under SEBI ICDR guidelines, and eventual dilution metrics.
Bajaj Finance Board Approves Up to Rs 17,500 Cr Fundraise via QIP and Promoter Warrants
Bajaj Finance's Board has approved raising up to Rs 11,700 crore through a Qualified Institutions Placement (QIP) of equity shares of face value Re 1 each. Additionally, the Board approved a preferential issue of convertible warrants to parent company Bajaj Finserv Limited for up to Rs 5,800 crore. Total proposed capital raise stands at Rs 17,500 crore, which represents approximately 17.0% of the company's net worth (Rs 1,03,123 crore) and 2.9% of its current market cap. The issues remain subject to shareholder approval via an upcoming Extra Ordinary General Meeting.
Confidence: HIGH
What changedBoard approved raising up to Rs 17,500 crore through a combination of QIP (Rs 11,700 cr) and promoter warrants (Rs 5,800 cr).
Why it mattersProvides substantial capital adequacy to fund the company's 24-26% targeted growth, branch network additions (900 branches by March 2027), and absorbs credit costs without straining leverage.
QIP Size: Rs 11,700 CrorePreferential Warrant Size: Rs 5,800 CroreTotal Fundraise: Rs 17,500 CroreFundraise vs Net Worth: ~17.0%Fundraise vs Market Cap: ~2.9%
📅 Short termFocus will shift to shareholder approval via EGM, pricing formula, and institutional demand during the QIP opening.
📈 Long termSignificantly strengthens Tier-1 capital adequacy and balance sheet flexibility, supporting planned loan-book expansion into newer verticals and branches over the next 2-3 years.
⚠ Risk flags
- Minor equity dilution for existing public shareholders from the QIP and warrant conversion
- Risk of warrant forfeiture if the balance 75% consideration is not exercised within 18 months
Key Highlights
Board approved QIP of equity shares for an aggregate amount not exceeding Rs 11,700 crore
Preferential allotment of convertible warrants to promoter Bajaj Finserv Limited for up to Rs 5,800 crore
25% consideration payable upfront upon warrant allotment, balance 75% payable on equity share conversion within 18 months
Combined capital raise of up to Rs 17,500 crore represents ~17.0% of net worth of Rs 1,03,123 crore
👀 What to Watch
Track the upcoming EGM notice for shareholder approval, issue floor price determination under SEBI ICDR guidelines, and eventual dilution metrics.
Bajaj Finance Board Approves Up to Rs 17,500 Cr Fundraise via QIP and Promoter Warrants
Bajaj Finance's Board has approved raising up to Rs 11,700 crore through a Qualified Institutions Placement (QIP) of equity shares of face value Re 1 each. Additionally, the Board approved a preferential issue of convertible warrants to parent company Bajaj Finserv Limited for up to Rs 5,800 crore. Total proposed capital raise stands at Rs 17,500 crore, which represents approximately 17.0% of the company's net worth (Rs 1,03,123 crore) and 2.9% of its current market cap. The issues remain subject to shareholder approval via an upcoming Extra Ordinary General Meeting.
Confidence: HIGH
What changedBoard approved raising up to Rs 17,500 crore through a combination of QIP (Rs 11,700 cr) and promoter warrants (Rs 5,800 cr).
Why it mattersProvides substantial capital adequacy to fund the company's 24-26% targeted growth, branch network additions (900 branches by March 2027), and absorbs credit costs without straining leverage.
QIP Size: Rs 11,700 CrorePreferential Warrant Size: Rs 5,800 CroreTotal Fundraise: Rs 17,500 CroreFundraise vs Net Worth: ~17.0%Fundraise vs Market Cap: ~2.9%
📅 Short termFocus will shift to shareholder approval via EGM, pricing formula, and institutional demand during the QIP opening.
📈 Long termSignificantly strengthens Tier-1 capital adequacy and balance sheet flexibility, supporting planned loan-book expansion into newer verticals and branches over the next 2-3 years.
⚠ Risk flags
- Minor equity dilution for existing public shareholders from the QIP and warrant conversion
- Risk of warrant forfeiture if the balance 75% consideration is not exercised within 18 months
Key Highlights
Board approved QIP of equity shares for an aggregate amount not exceeding Rs 11,700 crore
Preferential allotment of convertible warrants to promoter Bajaj Finserv Limited for up to Rs 5,800 crore
25% consideration payable upfront upon warrant allotment, balance 75% payable on equity share conversion within 18 months
Combined capital raise of up to Rs 17,500 crore represents ~17.0% of net worth of Rs 1,03,123 crore
👀 What to Watch
Track the upcoming EGM notice for shareholder approval, issue floor price determination under SEBI ICDR guidelines, and eventual dilution metrics.
Bajaj Finance Allots ₹5,000 Cr Secured NCDs at 8.15% Coupon for 10-Year Tenure
Bajaj Finance Limited has allotted 500,000 secured redeemable Non-Convertible Debentures (NCDs) of face value ₹1 lakh each, aggregating to ₹5,000 crore on a private placement basis. The 10-year instrument (3,653 days) carries a fixed coupon rate of 8.15% per annum, payable annually starting August 27, 2027, with final maturity on August 27, 2036. The NCDs are backed by a first pari-passu charge on loan receivables with a 1.10x asset cover for original investors. The fundraise forms ~4.85% of net worth (₹103,123 crore) and represents routine liability management to support ongoing balance sheet expansion.
Confidence: HIGH
What changedBajaj Finance successfully raised ₹5,000 crore via 10-year secured NCDs at 8.15% p.a. on private placement basis.
Why it mattersSecures long-term wholesale debt liquidity to fund loan book growth while managing asset-liability duration matching.
Issue size: Rs. 5000 croreCoupon rate: 8.15% p.a.Tenure: 3653 daysMaturity date: 27 August 2036Issue vs Net Worth: ~4.85%Issue vs TTM Revenue: ~6.06%
📅 Short termRoutine liquidity infusion supporting ongoing retail and wholesale lending operations without stock price impact.
📈 Long termAids long-term asset-liability matching (ALM) by locking in 10-year fixed-rate debt.
Key Highlights
Allotted 500,000 secured NCDs aggregating to ₹5,000 crore on private placement basis
Fixed coupon rate of 8.15% p.a. payable annually starting August 27, 2027
Tenure of 3,653 days maturing on August 27, 2036
1.10x asset cover on book debts/loan receivables for original investors
👀 What to Watch
Track overall cost of borrowings and Net Interest Margin (NIM) trends in subsequent quarterly disclosures.
Bajaj Finance Senior Executive Amit Raghuvanshi Resigns After Nearly 18 Years
Bajaj Finance Limited has announced the resignation of Mr. Amit Raghuvanshi, President – Cars, Two-Wheeler & Sales Finance, effective from the close of business hours on 11 August 2026. Mr. Raghuvanshi is stepping down after nearly 18 years of service with the company. Consequently, he ceases to be a Senior Management Personnel (SMP) under SEBI Listing Regulations. The company has not yet announced a successor in this disclosure.
Confidence: HIGH
What changedMr. Amit Raghuvanshi has stepped down as President – Cars, Two-Wheeler & Sales Finance and ceased to be an SMP.
Why it mattersWhile auto and sales finance are key growth and diversification segments for Bajaj Finance, the company has deep institutional depth, limiting disruption risk.
Tenure at company: nearly 18 yearsEffective date of cessation: 11 August 2026
📅 Short termNeutral impact expected on trading and operations as business continues under established segment leadership structures.
📈 Long termLimited structural impact given the established processes and distributed management depth across Bajaj Finance's lending verticals.
⚠ Risk flags
- Execution and transition risk in auto and two-wheeler finance pending appointment of a permanent successor.
Key Highlights
Resignation of Amit Raghuvanshi, President – Cars, Two-Wheeler & Sales Finance
Ceased to be Senior Management Personnel effective close of business hours on 11 August 2026
Completed nearly 18 years of service with Bajaj Finance Limited
👀 What to Watch
Track subsequent exchange disclosures regarding successor appointment for the auto and sales finance vertical and any leadership transition updates in upcoming quarterly earnings commentary.
Resignation of Amit Raghuvanshi, President - Cars, Two-Wheeler & Sales Finance
Mr. Amit Raghuvanshi, President - Cars, Two-Wheeler & Sales Finance at Bajaj Finance, has resigned effective August 11, 2026. He was a long-standing executive with nearly 18 years of service at the company. This departure involves a leader in the auto and sales finance segment, which the company has identified as a key scaling area in its growth strategy. Given the company's massive scale (Market Cap ~Rs 6.91 Lakh Cr), this is a routine senior management transition.
Confidence: HIGH
What changedA senior management personnel (SMP) and 18-year veteran of the company has resigned from his leadership role in the auto finance division.
Why it mattersWhile Bajaj Finance has a deep leadership bench, the departure of a long-tenured executive in a growth-focused segment (Auto/Sales Finance) requires a smooth transition to maintain momentum in those specific verticals.
Tenure at Company: nearly 18 yearsEffective Date: 11 August 2026Market Cap: Rs 690710 CrTTM Revenue: Rs 82540 Cr
📅 Short termNo significant impact expected on the stock price as this is a localized management change in a very large organization.
📈 Long termLimited structural impact; the company's 'FinAI' transformation and broad branch expansion (900 more by March 2027) remain the primary long-term drivers.
⚠ Risk flags
- Potential for temporary leadership transition gaps in the auto finance segment
Key Highlights
Resignation effective from the close of business hours on August 11, 2026
Mr. Amit Raghuvanshi completed nearly 18 years of service with the company
The executive held the role of President - Cars, Two-Wheeler & Sales Finance
Company maintains a massive retail base of 101.82 million customers
👀 What to Watch
Monitor for the appointment of a successor to lead the Cars and Two-Wheeler segment, which is a component of the company's diversified growth strategy.
Bajaj Finance Q1 FY27: Rs 37,000 Cr Record AUM Addition and 28% Profit Growth
Bajaj Finance reported a robust Q1 FY27 with a record quarterly AUM addition of Rs 37,000 crore and 28% profit growth. The company added 5 million new customers, achieving an ROE of 20.4% and an ROA of 4.7%. A key growth driver was the gold loan segment, which surged 112% YoY and now represents 4% of the total AUM. Management is aggressively pivoting toward a 'FinAI' model, aiming to double digital platform volumes to Rs 100,000 crore by next year.
Confidence: HIGH
What changedManagement provided detailed execution targets for FY27, including a massive scale-up in gold loans and a doubling of digital transaction volumes through AI transformation.
Why it mattersThe results demonstrate that Bajaj Finance can maintain high profitability (20%+ ROE) and asset quality even at a massive scale, countering concerns about growth dilution in a large-cap NBFC.
AUM Addition (Q1): Rs 37,000 CrProfit Growth (YoY): 28%ROE: 20.4%Gold Loan Growth: 112%Macroeconomic Provision: Rs 296 CrDigital Volume Target (Next Year): Rs 100,000 Cr
📅 Short termThe stock is likely to react positively to the record AUM growth and management's optimistic outlook on credit costs and digital transformation.
📈 Long termThe structural shift toward an AI-led 'pull' business model and diversification into high-yield segments like gold loans supports the long-term 24-26% growth guidance.
⚠ Risk flags
- Monsoon uncertainty impacting rural segments
- Geopolitical risks leading to prudent provisioning
- Execution risk in rapid FinAI transition
Key Highlights
Added a record Rs 37,000 crore to AUM in a single quarter, maintaining broad-based growth.
Gold loan business grew 112% YoY, with a year-end AUM target of Rs 29,000-31,000 crore.
Credit costs (loan loss to AUF) improved to 1.54% from 1.87% YoY, despite a Rs 296 crore prudent macro provision.
Digital platform volume target set at Rs 100,000 crore for next year, up from Rs 50,000 crore currently.
Customer franchise expanded by 5 million new additions, reaching a total of 101.82 million customers.
👀 What to Watch
Monitor the scaling of the gold loan business toward the 3,000-branch target and the impact of 'FinAI' on operating efficiencies. Watch for credit cost trends in the MSME segment, which is expected to return to growth momentum by Q3 FY27.
Bajaj Finance 39th AGM: ₹6 Dividend Declared, Rajiv Bajaj Retires from Board
Bajaj Finance concluded its 39th Annual General Meeting on July 30, 2026, where shareholders considered a dividend of ₹6 per share for FY2026. A notable management change occurred as Rajiv Bajaj retired as a Non-Executive Director to focus on his responsibilities at Bajaj Auto. The meeting also sought approvals for increasing borrowing powers and issuing Non-Convertible Debentures (NCDs) via private placement to support the company's growth targets. Additionally, material related-party transactions with its subsidiary, Bajaj Housing Finance Limited (BHFL), were put to a vote.
Confidence: HIGH
What changedThe formal conclusion of the FY26 AGM, the retirement of Rajiv Bajaj from the board, and the initiation of fresh mandates for debt fundraising.
Why it mattersThe meeting secures the necessary shareholder approvals for the company to raise debt capital and manage related-party transactions with its housing finance subsidiary, critical for maintaining its large-scale NBFC operations.
Dividend per share: ₹6Dividend Yield: 0.57%Members present: 1612TTM Revenue: ₹82540 CrTTM PAT: ₹19332 Cr
📅 Short termThe stock is likely to remain stable as the AGM proceedings and dividend were largely anticipated; focus will shift to the voting results on borrowing powers.
📈 Long termThe approval for NCD issuance and increased borrowing limits is structurally important for the company to achieve its goal of adding 900 branches by March 2027.
⚠ Risk flags
- Retirement of a long-standing board member (Rajiv Bajaj)
- Dependency on wholesale debt markets for growth funding
Key Highlights
Dividend of ₹6 per equity share (600% of ₹1 face value) declared for FY2026.
Rajiv Bajaj retired as Non-Executive Director, opting not to seek re-appointment due to professional commitments.
1,612 members attended the meeting conducted via Video Conferencing.
Special resolutions proposed for increasing borrowing powers and issuing NCDs through private placement.
Pramit Jhaveri re-appointed as an Independent Director for a second five-year term starting August 1, 2026.
👀 What to Watch
Monitor the voting results (Scrutinizer's Report) expected within two working days to confirm the approval of increased borrowing limits and NCD issuance, which are essential for funding the company's 24-26% growth guidance.
28% PAT Growth to ₹6,081 Cr; AUM Surges 24% to ₹5.47 Lakh Cr in Q1 FY27
Bajaj Finance reported a robust Q1 FY27 with consolidated Profit After Tax (PAT) growing 28% YoY to ₹6,081 crore. Assets Under Management (AUM) reached ₹546,944 crore, a 24% increase, supported by the addition of 5.10 million new customers. Asset quality showed improvement with Net NPA declining to 0.39% from 0.50% YoY. The company is aggressively scaling its 'FinAI' transformation and gold loan business, adding 194 gold loan branches in the quarter alone.
Confidence: HIGH
What changedQ1 FY27 results demonstrate a re-acceleration in profit growth (28%) and continued AUM momentum (24%) alongside improving asset quality and ROE metrics.
Why it mattersAs a mega-cap NBFC, maintaining an ROE of 20.4% and ROA of 4.7% while scaling a ₹5.47 lakh crore balance sheet confirms high operational efficiency and strong market positioning.
PAT Growth (YoY): 28%Total AUM: ₹546,944 CrNet NPA: 0.39%ROE (Annualised): 20.4%New Loans Booked: 16.13 MMCapital Adequacy: 20.90%
📅 Short termThe stock is likely to react positively to the earnings beat and improved asset quality metrics in the coming weeks.
📈 Long termStructural growth remains strong as the company pivots toward high-yield segments like gold loans and leverages AI to drive down Opex-to-NTI ratios over the next 15-18 months.
⚠ Risk flags
- Potential impact of geopolitical events on credit costs
- Dependency on wholesale debt markets for liquidity
Key Highlights
Consolidated PAT increased 28% YoY to ₹6,081 crore for the quarter ended June 30, 2026
AUM grew by ₹36,969 crore in Q1 to reach a total of ₹546,944 crore
Customer franchise expanded to 124.43 million with 5.10 million new additions in Q1
Net NPA improved to 0.39% from 0.50% in Q1 FY26, reflecting strong credit quality
Gold loan network reached 1,701 branches, with a target of 2,700-2,800 by the end of FY27
👀 What to Watch
Monitor the execution of the FinAI transformation and the scaling of new segments like gold loans and MFI, which are critical for maintaining the 24-26% growth guidance. Watch for the impact of the planned 150-175 new location openings in FY27 on operating margins.
Bajaj Finance Q1 PAT Rises 29% YoY to ₹5,345 Cr; ₹14,123 Cr Raised via NCDs
Bajaj Finance reported a strong start to FY27 with standalone PAT growing 29.3% YoY to ₹5,345.52 Cr for the quarter ended June 30, 2026. Total revenue from operations increased 19.6% YoY to ₹19,802.43 Cr, primarily driven by interest income. Notably, impairment charges remained relatively stable at ₹1,976.86 Cr (up only 2.4% YoY) despite significant growth in the loan book. The company also successfully raised ₹14,123.08 Cr through private placement of Non-Convertible Debentures (NCDs) during the quarter to fuel its expansion strategy.
Confidence: HIGH
What changedBajaj Finance has reported its Q1 FY27 financial results, showing robust profit growth and successful large-scale debt capital raising.
Why it mattersThe results demonstrate the company's ability to grow its bottom line faster than its top line while keeping credit costs under control, which is critical for maintaining its high P/E valuation.
Standalone PAT (Q1 FY27): ₹5,345.52 CrRevenue Growth (YoY): 19.6%PAT Growth (YoY): 29.3%Funds raised via NCDs: ₹14,123.08 CrImpairment charges: ₹1,976.86 CrNCD Raise vs Market Cap: ~2.12%
📅 Short termThe stock may see positive sentiment due to the 29% PAT growth and stable asset quality indicators in the standalone results.
📈 Long termThe company's structural growth remains supported by its aggressive branch expansion (900 more by March 2027) and diversification into high-yield segments like gold loans.
⚠ Risk flags
- Dependency on wholesale debt markets for funding liquidity
- Potential for elevated credit costs in newer segments like MFI if macro conditions weaken
Key Highlights
Standalone Profit After Tax (PAT) increased 29.3% YoY to ₹5,345.52 Cr from ₹4,133.08 Cr.
Total revenue from operations grew 19.6% YoY to ₹19,802.43 Cr.
Impairment on financial instruments was contained at ₹1,976.86 Cr, a marginal 2.4% increase over the previous year's ₹1,929.60 Cr.
Successfully raised ₹14,123.08 Cr through private placement of NCDs across multiple tranches in Q1.
Standalone Basic EPS improved to ₹8.60 from ₹6.66 in the year-ago period.
👀 What to Watch
Investors should monitor the company's ability to maintain stable credit costs (impairments) as it scales new segments like gold and auto loans, and track the progress of the 'FinAI' transformation on operational efficiency.
Bajaj Finance seeks ₹18,152 Cr RPT approval; Rajiv Bajaj to retire from Board
Bajaj Finance has issued its FY2026 Annual Report and scheduled its 39th AGM for July 30, 2026. A key agenda item is the approval of material related party transactions (RPT) with its subsidiary, Bajaj Housing Finance Limited (BHFL), for up to ₹18,152 crore. The report reveals a 4% degrowth in the standalone deposit book to ₹68,485.55 crore, now comprising 21% of borrowings. Additionally, Rajiv Bajaj will retire from the board by rotation and has opted not to seek re-appointment.
Confidence: HIGH
What changedThe company is formalizing its FY2026 financial adoption and seeking shareholder approval for a large RPT limit with its housing subsidiary, alongside a change in board composition.
Why it mattersThe ₹18,152 crore RPT limit (approx. 22% of TTM revenue) is significant for the operational integration between the parent and BHFL. The reduction in deposit contribution to total borrowings suggests a shift in the company's liability management strategy.
RPT Limit with BHFL: ₹18,152 croreRPT vs TTM Revenue: ~22%Standalone Deposits: ₹68,485.55 croreDeposit Degrowth (FY26): 4%Paid-up Share Capital: ₹622.24 croreAGM Date: 30 July 2026
📅 Short termThe stock may see neutral to slightly cautious sentiment due to the 4% degrowth in deposits, though the AGM is a standard procedural event.
📈 Long termThe scaling of BHFL through parent-subsidiary transactions and the management of the liability mix remain structural drivers for the company's high-growth trajectory.
⚠ Risk flags
- 4% degrowth in standalone deposits
- Retirement of a key promoter-group director (Rajiv Bajaj)
- High volume of related party transactions
Key Highlights
Proposed material related party transactions with BHFL capped at ₹18,152 crore for the period until the next AGM.
Standalone deposit book experienced a 4% degrowth in FY2026, ending at ₹68,485.55 crore.
Paid-up share capital reached ₹622.24 crore following a 1:2 stock split and 4:1 bonus issue during the fiscal year.
Rajiv Bajaj to retire by rotation and will not seek re-appointment; Sanjiv Bajaj's status changed to a director liable to retire by rotation.
Consolidated deposits stood at ₹68,533 crore, contributing 16% to consolidated borrowings compared to 20% in FY2025.
👀 What to Watch
Monitor the AGM voting results on July 30, 2026, specifically regarding the RPT limits and the dividend declaration. Investors should also observe if the 4% deposit degrowth impacts the company's overall cost of funds in upcoming quarterly results.
Bajaj Finance sets July 30 for AGM; seeks ₹18,152 Cr RPT limit with BHFL
Bajaj Finance has scheduled its 39th Annual General Meeting (AGM) for July 30, 2026. Key agenda items include the approval of a ₹18,152 crore limit for Related Party Transactions (RPT) with its subsidiary, Bajaj Housing Finance Limited (BHFL), which represents approximately 22% of TTM revenue. The company also reported a 4% degrowth in its standalone deposit book to ₹68,485.55 crore for FY26. Additionally, Rajiv Bajaj will retire from the board and has expressed his intention not to seek re-appointment.
Confidence: HIGH
What changedThis filing formalizes the agenda for the 39th AGM, including a specific ₹18,152 crore RPT ceiling and the exit of Rajiv Bajaj from the board.
Why it mattersThe RPT limit highlights the significant financial interplay between the parent NBFC and its housing finance subsidiary. The decline in deposit contribution to total borrowings (from 20% to 16% consolidated) indicates a change in the company's funding strategy or market conditions for retail liabilities.
RPT Limit with BHFL: ₹18,152 croreRPT vs TTM Revenue: ~22%Standalone Deposit Book: ₹68,485.55 croreDeposit Annual Degrowth: 4%Consolidated Deposit Mix: 16% of borrowingsAGM Date: 30 July 2026
📅 Short termThe stock is likely to remain neutral as the AGM notice is a standard procedural requirement, though the dividend declaration will be a minor positive for yield-seeking investors.
📈 Long termThe structural shift in the borrowing mix and the continued scaling of the housing finance subsidiary through large-scale related party transactions are the primary long-term trends to observe.
⚠ Risk flags
- 4% degrowth in standalone deposits
- High volume of related party transactions (₹18,152 Cr)
- Management transition with the exit of Rajiv Bajaj
Key Highlights
Proposed Material Related Party Transaction limit with BHFL set at ₹18,152 crore for the upcoming year
Standalone deposit book stood at ₹68,485.55 crore as of March 31, 2026, reflecting a 4% annual degrowth
Consolidated deposits now contribute 16% of total borrowings, down from 20% in the previous fiscal year
Rajiv Bajaj to retire by rotation and will not seek re-appointment to the Board of Directors
Pramit Jhaveri proposed for re-appointment as an Independent Director for a second 5-year term until July 2031
👀 What to Watch
Investors should monitor the AGM voting results on July 30, 2026, specifically regarding the RPT limits and the increase in borrowing powers. The 4% degrowth in deposits warrants attention in future quarterly updates to see if the company is intentionally shifting its liability mix away from retail deposits.
₹5,306.57 Cr NCD Allotment: Bajaj Finance raises debt at 7.70%-7.79% coupons
Bajaj Finance has successfully allotted 5,30,500 secured Non-Convertible Debentures (NCDs) totaling ₹5,306.57 Crore via private placement. The fundraise is split into two tranches: a ₹4,001.37 Crore tranche with a ~3.2-year tenure at 7.70% and a ₹1,305.20 Crore tranche with a 10-year tenure at 7.79%. This capital injection represents approximately 5.1% of the company's net worth (₹1,03,123 Cr) and will support its targeted 24-26% growth rate. The borrowing rates are competitive, reflecting the company's strong credit profile in the wholesale debt market.
Confidence: HIGH
What changedBajaj Finance has secured ₹5,306.57 Crore in fresh debt capital through the issuance of secured NCDs.
Why it mattersFor a large NBFC, regular access to the debt market at competitive rates is essential to fund loan book growth and maintain the guided 24-26% growth trajectory without diluting equity.
Total Fundraise: ₹5,306.57 CrFundraise vs Net Worth: ~5.15%Option I Coupon: 7.70% p.a.Option II Coupon: 7.79% p.a.Option II Tenure: 3651 days
📅 Short termThe announcement confirms liquidity availability for immediate lending operations; stock impact is likely minimal as this is a routine business activity.
📈 Long termThe 10-year tranche (Option II) helps in managing the asset-liability maturity profile, supporting long-term lending products like mortgages and commercial finance.
⚠ Risk flags
- Interest rate risk if market rates decline below the fixed coupon rates
- Wholesale debt market dependency
Key Highlights
Total allotment of 5,30,500 NCDs aggregating to ₹5,306.57 Crore on a private placement basis.
Option I: ₹4,001.37 Crore raised at a 7.70% annual coupon with a tenure of 1172 days.
Option II: ₹1,305.20 Crore raised at a 7.79% annual coupon with a long-term tenure of 3651 days (10 years).
Secured by a first pari-passu charge on book debts and loan receivables with a minimum 1.0x cover.
Maturity dates set for September 20, 2029, and July 4, 2036, for the respective tranches.
👀 What to Watch
Monitor the company's Net Interest Margins (NIMs) in upcoming quarterly results to see how these borrowing costs compare to lending yields as the company scales its new car and gold loan portfolios.
24% AUM Growth to ₹5.47 Lakh Cr; Customer Base Hits 124.4M in Q1 FY27 Update
Bajaj Finance reported a 24% YoY growth in Assets Under Management (AUM) to approximately ₹546,900 crore for Q1 FY27, adding ₹36,900 crore in the quarter alone. The customer franchise expanded to 124.43 million, with 5.10 million new customers added during the period. New loans booked saw a 20% increase to 16.13 million compared to the previous year. The deposit book reached approximately ₹68,500 crore, supporting the company's diversified funding strategy.
Confidence: HIGH
What changedThis filing provides the first operational performance metrics for FY27, showing sustained growth in AUM and customer acquisition.
Why it mattersThe 24% AUM growth confirms the company is meeting its long-term guidance of 24-26% growth, which is a key driver for its valuation in the NBFC sector.
Assets Under Management (AUM): ₹546,900 croreAUM Growth (YoY): 24%New Loans Booked: 16.13 millionCustomer Franchise: 124.43 millionQ1 AUM Addition vs TTM Revenue: ~54%
📅 Short termThe stock may react positively as the business update shows robust operational momentum and no slowdown in customer acquisition.
📈 Long termThe company's ability to scale its AUM by 24% on a large base while expanding its branch network and 'FinAI' transformation supports its long-term structural growth story.
⚠ Risk flags
- Elevated credit costs (guided at 1.85% to 1.95%)
- Dependency on wholesale debt markets for funding
Key Highlights
Assets Under Management (AUM) grew 24% YoY to approximately ₹546,900 crore as of June 30, 2026.
Customer franchise increased by 5.10 million in Q1 FY27 to reach a total of 124.43 million.
New loans booked grew by 20% to 16.13 million in Q1 FY27 compared to 13.49 million in Q1 FY26.
AUM increased by approximately ₹36,900 crore during the single quarter of Q1 FY27.
Deposits book stood at approximately ₹68,500 crore as of June 30, 2026.
👀 What to Watch
Monitor the upcoming full Q1 FY27 results for details on Net Interest Margins (NIMs) and whether credit costs remain within the guided range of 1.85% to 1.95%.
Bajaj Finance Allots Secured NCDs Worth Rs 2,000.45 Crore at 7.92% Coupon
Bajaj Finance has successfully allotted 2,00,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total capital raised amounts to Rs 2,000.45 crore with a face value of Rs 1 lakh per security. These instruments carry a competitive coupon rate of 7.92% per annum and have a tenure of five years. This fundraise is part of the company's regular capital management strategy to fuel its lending business.
Key Highlights
Allotted 2,00,000 Secured NCDs aggregating to a total value of Rs 2,000.45 crore
Fixed coupon rate of 7.92% per annum with annual interest payment frequency
Instrument tenure of 1826 days (5 years) with maturity scheduled for June 24, 2031
Secured by a first pari-passu charge on book debts and loan receivables with 1.0x cover
👀 What to Watch
This fundraise demonstrates Bajaj Finance's strong credit profile and ability to raise low-cost debt. Investors should remain positive as this provides the necessary liquidity for continued loan book growth.
Bajaj Finance Allots NCDs Worth Rs 1,455.40 Crore via Private Placement
Bajaj Finance Limited has successfully allotted 1,39,000 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis, raising a total of Rs 1,455.40 crore. The NCDs have a face value of Rs 1 lakh each and were issued at a price of Rs 1,04,705.27 per unit. These instruments carry a coupon rate of 7.07% p.a. and are scheduled for maturity on September 21, 2028. The debentures will be listed on the Wholesale Debt Market Segment of the BSE.
Key Highlights
Allotted 1,39,000 Secured Redeemable NCDs aggregating to a total issue size of Rs 1,455.40 crore.
The instruments offer a coupon rate of 7.07% p.a. with the first interest payment due on September 21, 2026.
The tenure of the NCDs is 826 residual days with a final maturity date of September 21, 2028.
The issuance is secured by a first pari-passu charge on book debts and loan receivables with a minimum 1.0x security cover.
The NCDs are a re-issue under ISIN INE296A07TN6 and will be listed on the BSE Wholesale Debt Market.
👀 What to Watch
This is a routine fundraise for Bajaj Finance to support its lending operations and maintain liquidity. Investors should view this as a standard business activity that demonstrates the company's ability to raise capital at competitive rates (7.07%).
Bajaj Finance Allots NCDs Worth ₹4,505.15 Crore via Private Placement
Bajaj Finance Limited has successfully allotted 4,50,000 Secured Redeemable Non-Convertible Debentures (NCDs) to raise a total of ₹4,505.15 Crore. The issuance is divided into two options: ₹2,000.90 Crore at a 7.93% coupon maturing in June 2029, and ₹2,504.25 Crore at an 8.00% coupon maturing in May 2031. These funds, raised on a private placement basis, will strengthen the company's capital base for its lending operations. The debentures are secured by a first pari-passu charge on the company's loan receivables with a minimum 1.00x cover.
Key Highlights
Total fundraise of ₹4,505.15 Crore through the allotment of 4,50,000 NCDs.
Option I: ₹2,000.90 Crore raised for a tenure of 1096 days at a coupon rate of 7.93% p.a.
Option II: ₹2,504.25 Crore raised with a maturity date of May 12, 2031, at a coupon rate of 8.00% p.a.
The NCDs will be listed on the Wholesale Debt Market Segment of the BSE Limited.
Secured by a first pari-passu charge on book debts and loan receivables.
👀 What to Watch
Investors should view this as a positive indicator of the company's ability to raise large-scale capital at competitive rates to fuel its credit growth. No immediate action is required, but maintain focus on the company's upcoming quarterly NIM (Net Interest Margin) trends.
Bajaj Finance Allots NCDs Worth Rs 1,025 Crore at 8.08% Coupon
Bajaj Finance has successfully allotted 1,02,500 Secured Redeemable Non-Convertible Debentures (NCDs) on a private placement basis. The total fundraise amounts to Rs 1,025 crore with a face value of Rs 1 lakh per security. These NCDs carry a coupon rate of 8.08% per annum and have a long-term tenure of 10 years. The issue includes a put option for investors at the end of 3 years, providing a liquidity window on May 21, 2029.
Key Highlights
Allotted 1,02,500 NCDs aggregating to a total value of Rs 1,025 crore
Coupon rate fixed at 8.08% p.a. with annual interest payment frequency
Tenure of 10 years with a maturity date of May 20, 2036
Includes a Put Option exercisable at the end of 3 years on May 21, 2029
Secured by a first pari-passu charge on book debts and loan receivables with 1.0x cover
👀 What to Watch
This fundraise is a routine activity for an NBFC to support its lending growth and manage liquidity. Investors should view this as a positive sign of the company's ability to raise long-term capital at competitive rates.
