EGM on 2 November 2026 to consider warrant issue to promoter and QIP resolutions

Bajaj Finance will hold an Extraordinary General Meeting on 2 November 2026 at 12:45 p.m. IST through video conferencing.

Sat 10 Oct 2026

EGM date and time

2 November 2026 at 12:45 p.m. IST

Preferential warrant issue to promoter

up to 5,75,25,985 warrants to Bajaj Finserv Limited, aggregate consideration not exceeding Rs. 5,800 Crore

QIP size

equity shares to Qualified Institutional Buyers for an amount not exceeding Rs. 11,700 Crore

Bajaj Finance has convened an Extraordinary General Meeting on 2 November 2026 at 12:45 p.m. IST, to be held through video conferencing and other audio-visual means. Two special resolutions are placed before shareholders for approval.

Resolution 1: Preferential issue of warrants to the promoter

• Up to 5,75,25,985 warrants are proposed to be issued and allotted to Bajaj Finserv Limited, the promoter and holding company, on a preferential basis.
• Each warrant is convertible into fully paid equity shares of the company, exercisable in one or more tranches within 18 months from the date of allotment.
• The aggregate consideration is not to exceed Rs. 5,800 Crore, with the price to be determined by the Board in line with the pricing guidelines under Chapter V of the SEBI ICDR Regulations.
• 25% of the consideration is payable at the time of allotment of each warrant and the remaining 75% at the time of allotment of the equity shares on exercise.
• The warrants do not carry voting rights until they are exercised, and the shares issued on conversion will rank pari-passu with the existing equity shares.
• Warrants not exercised within the window lapse, and the amount paid on them stands forfeited to the company.
• The relevant date for pricing is Thursday, 1 October 2026.

Resolution 2: Issue of equity shares under a Qualified Institutions Placement

• Equity shares are proposed to be issued to Qualified Institutional Buyers through a QIP, for a total amount not exceeding Rs. 11,700 Crore.
• The price may include a discount of not more than 5% on the floor price calculated as per the SEBI ICDR Regulations.
• No single allottee will be allotted more than 50% of the proposed QIP size, and the resolution also fixes a minimum number of allottees.
• The shares will rank pari-passu with the existing equity shares, and no allotment is to be made to a qualified institutional buyer who is a promoter or related to the promoters.
• The company will not undertake another QIP until the gap specified in the resolution has passed from a prior QIP.

Pointers for shareholders

• Both items are special resolutions, so they need a higher level of shareholder approval than ordinary resolutions.
• Voting can be done in advance through remote e-voting or during the meeting.
• Both proposals involve issuing new shares. If the warrants are converted and the QIP is subscribed, the total number of shares in issue can rise, which means each existing shareholder's slice of the company would represent a smaller percentage than before. The warrant issue is to the promoter and holding company, while the QIP is open to institutional buyers.

Key dates for voting

• Cut-off date to be treated as a shareholder for e-voting: Monday, 26 October 2026.
• Remote e-voting window: Thursday, 29 October 2026 (9:00 a.m. IST) to Sunday, 1 November 2026 (5:00 p.m. IST).
• Speaker registration closes: Friday, 30 October 2026.

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