Bajaj Finance’s September quarter AUM growth is the best in four years

“Customer franchise as of 30 September 2023 stood at 765.6 lakh as compared to 62.91 MM as of 30 September 2022. In Q2 FY24, the customer franchise increased by 35.8 lakh,” the firm said.

According to the exchange filing, Bajaj Finance’s assets under management (AUM) grew by 33 percent to approximately Rs 290,200 crore by the end of September as compared to Rs 218,366 crore at the end of September the previous year. “AUM in Q2 FY24 grew by approximately Rs 20,100 crore,” it added. This is the best in 15 quarters.

Shares of Bajaj Finance will continue to be in focus in Tuesday's (September 26) trade as brokerages held mixed views on prospects of the non-bank finance lender after the company announced a mega fund raising plan. The board will be meeting on October 5 to consider this.

Meanwhile, the NBFC's board is set to meet on October 5 to consider raising funds.

The fund raising could be considered through various methods including by way of a preferential issue, qualified institutional placement (QIP) or other such methods subject to regulatory approvals.

Earlier in September, the company had raised Rs 1,195 crore through allotment of 7.85 percent per annum secured redeemable Non-Convertible Debentures (NCDs). It had also raised close to Rs 1,700 crore via NCDs in May.

Brokerages have mixed views on the prospects of the non-bank finance lender raising funds.