Bajaj Finance Ltd.

Bajaj Finance has received an approval to raise funds through issue of 67,60,117 equity shares of Rs 10 each to eligible shareholders on a rights basis in the ratio of 3 rights equity shares for every 19 equity shares of the face value of Rs 10 each at a price of Rs 1,100 per share (inclusive of premium of Rs 1,090 per share), aggregating to Rs 743.61 crore.

Further, the board also approved the commencement of business of distribution of mutual fund products, subject to applicable regulatory approvals. The board at its meeting held on January 15, 2013 has approved the same.

Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the business of consumer finance, SME finance and commercial lending.