Bajaj Finserve plans to raise Rs 750-crore equity capital within the next two quarters either through private equity or through qualified institutional placement, Mr Sanjiv Bajaj, Managing Director, Bajaj Finserve, said.
Talking to Business Line on the sidelines of the National Council Meeting of the Confederation of Indian Industry held here on Tuesday, Mr Bajaj said, “We need additional capital to support growth in different areas such as consumer, infrastructure and SME financing, all of which are reporting growth.”
The promoters too will infuse enough equity to retain their 56 per cent shareholding in the company.
On loan disbursement, he said amid slow down forecast, the first quarter disbursements have been strong given the interest rate scenario. “But, we would expect some slow down in the third quarter of the current financial year,” he said.
He said the company's auto finance portfolio grew 25 per cent last year. However, this year “we expect that to grow only by 20-22 per cent, due to increasing interest rates”.