Bajaj Finance Allots 49,600 NCDs On Private Placement Basis

Bajaj Finance Limited on Wednesday informed that its Debenture Allotment Committee at its meeting held on 21 March 2023 allotted 49,600 Secured redeemable non-convertibles debentures.

The coupon rate for the non-convertible debentures has been kept at 8.08 per cent per year and the subscription size is Rs 1,000 crore plus Rs 5,000 crore and minimum subscription is at Rs 1 crore.

Bajaj Finance in its regulatory filing listed eligible investors including Commercial Bank, Regional Rural Banks, Financial Institutions, Insurance Companies, Non-banking finance companies and Residuary NBFCs, Mutual funds, Foreign institutional investors, Foreign portfolio investors as permitted under the SEBI (Foreign Portfolio Investors) Regulations, 2014,  Venture Capital Funds, National Investment Funds, Provident Funds, Gratuity, Superannuation and Pension Funds.

The NCDs are proposed to be listed on the wholesale debt segment of BSE. The listing will be done within T+ 3 working days from the date of closure of each tranche of issue. “In case of further issuance where bond is already listed on the exchange, necessary arrangements will be made to give effect of further issuance,” Bajaj Finance mentioned in its regulatory filing.

The tenor for this NCD allotment is 3653 Days and the redemption date is 21 March 2033. 

Bajaj Finance said that the redemption amount is set at Rs 10,00,000/- per NCD.