Bajaj Finance will raise up to 88 billion rupees through a qualified institutional placement of shares, and another 12 billion rupees by issuing warrants convertible into shares to top shareholder Bajaj Finserv. Bajaj Finserv's stake in the company could increase from 52.45% to 52.57% post the issue, Bajaj Finance said, adding that the issue price would be determined at a later stage. Bajaj Finance had last raised funds through a qualified institutional placement in 2019, raking in 85 billion rupees.