Bajaj Finance Limited's Board of Directors has approved a substantial increase in the company's borrowing capacity, marking a significant step in the non-banking financial company's capital structure expansion. The decision was taken during a board meeting held on April 29, 2026, demonstrating the company's strategic approach to enhancing its financial resources.

Board Approval for Enhanced Borrowing Capacity

The board has approved raising the overall borrowing limit from Rs 375,000 crore to Rs 550,000 crore, representing an increase of Rs 175,000 crore. This enhancement is proposed under Section 180(1)(c) of the Companies Act, 2013, and requires shareholder approval at the Annual General Meeting.

Debt Instruments and Funding Structure

The approved funding strategy includes raising funds through various debt instruments, with non-convertible debentures being a key component. The company has the flexibility to issue these instruments in both Indian Currency and Foreign Currency formats, providing operational versatility in capital markets.

The specific terms of the debt instruments will be determined based on market conditions and will include:

• Rate of interest as per market dynamics
• Tenor based on company requirements
• Security arrangements as applicable
• Terms as outlined in respective offer documents

Regulatory Framework and Communication

The decision has been communicated to both BSE Limited and National Stock Exchange of India Limited under Regulation 30 read with Regulation 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also informed Catalyst Trusteeship Limited, Pune, which serves as the Debenture Trustee.

Strategic Implications and Next Steps

This borrowing limit enhancement provides Bajaj Finance with increased financial flexibility to support its business operations and growth strategies. The ability to access both domestic and international debt markets through various instruments positions the company to optimize its cost of capital based on prevailing market conditions.

The Notice of Annual General Meeting will be filed with stock exchanges simultaneously with its dispatch to company members, ensuring transparent communication of this significant corporate decision to all stakeholders. The funds will be raised on terms including rate of interest, tenor, and security as per the offer documents that may be issued by the company from time to time.

Bajaj Finance Limited has announced the re-appointment of Pramit Jhaveri as Non-executive Independent Director for a second consecutive term. The Board of Directors approved this decision on 29 April 2026, following recommendations from the Nomination and Remuneration Committee.

Re-appointment Details

The company's board meeting, held on 29 April 2026, approved Jhaveri's re-appointment for a five-year term. The appointment is subject to shareholder approval through a special resolution.

Professional Background

Pramit Jhaveri presently acts as advisor and mentor to startups, corporates and family offices. He is Senior Advisor to Premji Invest and PJT Partners and an Independent Director on the Boards of Bajaj Finance, Bajaj Finserv and Larsen & Toubro. Prior to his current activities, Pramit was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019. He retired from Citibank in November 2019 after a distinguished career in banking of 32 years, having joined the firm as a 23 year old in 1987.

Educational Qualifications and Other Activities

Jhaveri holds a Bachelor of Commerce degree from Sydenham College, Mumbai University and an MBA from the Simon School of Business, University of Rochester. He is an avid tennis player, a keen follower of cricket and soccer and a long standing collector of Indian contemporary art. Beyond his corporate roles, he serves as Trustee on several philanthropic and nonprofit entities in India, including Pratham Education Foundation, World Monuments Fund India, CSMVS museum, Museum of Art and Photography (MAP) in Bangalore, National Centre for Performing Arts (NCPA), and the University of Rochester, New York.

Regulatory Compliance

The company confirmed that Jhaveri is not debarred from holding the office of Director by virtue of any order passed by SEBI or any other authority, making him eligible for re-appointment. The disclosure was made pursuant to Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board meeting commenced at 1.45 p.m. and concluded at 3.50 p.m. on 29 April 2026.

Board Independence

The company disclosed that Pramit Jhaveri is not related to any of the directors of the company, maintaining the independence requirements for his role as Non-executive Independent Director.