New Delhi, Nov. 12 -- Bajaj Finance shares surged as much as 3.48% in Thursday's trading session, after the non-banking financial company (NBFC) launched its Rs.11,700 crore qualified institutional placement (QIP). The stock has witnessed strong buying interest, gaining around 16% over the past month.

Bajaj Finance share price opened at Rs.1,078 apiece on NSE today and touched an intraday high of Rs.1,118 on November 12.

Bajaj Finance launched its Rs.11,700 crore QIP on November 11 to raise capital from eligible institutional investors. The company has set the floor price at Rs.992.25 per equity share, in accordance with the pricing formula prescribed under the Securities and Exchange Board of India (SEBI) regulations.

The indicative i...