Bajaj Finance gains 3% as board approves raising Rs 8,500 crore via QIP

The approval, it said, is subject to shareholders' nod to be sought through a postal ballot.

Shares of Bajaj Finance were up 3 per cent to Rs 3,464 in the early morning deals on the BSE on Wednesday after its board approved raising capital worth Rs 8,500 crore via a qualified institutions placement (QIP) route.

"The board of directors have approved, subject to shareholders approval, raising of capital through a qualified institutions placement (QIP) for an aggregate amount not exceeding Rs 8,500 crore by issue of equity shares and/or eligible securities," it informed the exchanges on Tuesday, post market hours. READ FILING HERE

The approval, it said, is subject to shareholders' nod to