New Delhi, Oct. 2 -- Bajaj Finance is gearing up for one of its biggest capital-raising exercises, with the company's board approving a QIP of up to Rs.11,700 crore alongside a Rs.5,800 crore preferential issue of warrants to promoter and holding company Bajaj Finserv. The move comes as the NBFC looks to strengthen its capital base, with the proposed transactions together amounting to as much as Rs.17,500 crore.

The announcements came after the boards of both companies met on October 1, with the proposed fundraise subject to applicable regulatory and statutory approvals, including shareholder approval. Bajaj Finance said it would seek shareholder approval for both the QIP and preferential issue through an Extra Ordinary General Meeting....