Bajaj Finserv raises Rs.5,120-Cr through privately placed NCDs

Mumbai-based Bajaj Finserv Ltd has allotted 512,000 secured redeemable non-convertible debentures (NCDs), aggregating INR 5,120 crore, through a private placement. Each NCD carries a face value of INR 1 lakh.The debentures have a tenure of 10 years (3,650 days) from the date of allotment, with an annual coupon rate of 7.65%. This issuance is part of Bajaj Finserv's strategy to raise long-term funds for its consumer finance, wealth management, and lending operations.