Bajaj Finance Limited reported strong growth in its assets under management (AUM) for the quarter ended September 30, 2026. The NBFC’s AUM expanded 26.5% year-on-year to approximately ₹584,750 crore, driven by robust customer acquisition and lending volumes.

The company disclosed these provisional operational metrics in a filing to stock exchanges on October 3, 2026. The data highlights a significant expansion in the customer base and deposit book alongside the core asset growth.

Key Operational Metrics

The lender’s customer franchise stood at 128.85 million as of September 30, 2026, up from 110.64 million a year earlier. This represents an addition of 4.42 million customers during the second quarter of FY27 alone.

New loans booked grew 11% to 13.45 million in Q2FY27 compared to 12.17 million in Q2FY26. The company noted that year-on-year volume growth is not directly comparable due to the early onset of the festival season in the previous fiscal year.

Funding and Balance Sheet Strength

The deposits book stood at approximately ₹69,750 crore as of September 30, 2026. This figure underscores the company’s continued ability to attract retail deposits as a key funding source. The AUM increased by approximately ₹37,800 crore during the quarter, indicating sustained momentum in loan disbursements.

What the Numbers Show

A divergence exists between the volume growth of new loans (11%) and the total AUM growth (26.5%). While new loan bookings contribute to immediate asset creation, the substantial rise in AUM suggests a combination of high ticket-size loans, reduced repayments, or organic compounding from the existing portfolio. The addition of 4.42 million customers in a single quarter, against a total base of 128.85 million, indicates that Bajaj Finance is aggressively targeting new-to-credit segments or cross-selling to existing users to drive this scale.

The information provided is provisional and subject to review by the statutory auditors of the company.

Bajaj Finserv Limited has approved the subscription to convertible warrants of its subsidiary, Bajaj Finance Limited , for an aggregate cash consideration not exceeding ₹5,800 crore. The Board of Directors authorized this preferential allotment during its meeting held on October 1, 2026.

This decision complements Bajaj Finance’s broader capital raising plan, which includes a Qualified Institutions Placement (QIP) of ₹11,700 crore, bringing the total proposed raise to ₹17,500 crore. The warrant issue is structured to signify promoter support and commitment, aiming to lend confidence to prospective investors rather than addressing immediate capital needs.

Structure of the proposed raise

The QIP involves issuing equity shares with a face value of Re. 1 each to Qualified Institutional Buyers. This issuance will comply with Chapter VI of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Separately, the preferential issue entails the allotment of warrants convertible into an equivalent number of equity shares. These warrants are proposed to be allotted to Bajaj Finserv Limited, the promoter and holding company of Bajaj Finance. The terms specify that a minimum of 25% of the consideration must be paid upon allotment, with the remaining 75% payable at the time of share conversion.

Conversion and forfeiture terms

For the preferential issue, the warrants are convertible into equity shares that will be pari-passu with the company's fully paid-up equity shares. If the Proposed Allottee fails to exercise the option for equity shares within eighteen months from the date of warrant allotment, or within any other period permitted under SEBI ICDR Regulations, the consideration amount payable will stand forfeited by the company.

The issue price for the preferential allotment will be determined at a later stage in accordance with applicable laws. The disclosure was made pursuant to Part A Para A of Schedule III read with Regulation 30 of the SEBI Listing Regulations, 2015.

What the numbers show

Bajaj Finserv currently holds 51.30% of the total issued and paid-up equity share capital of Bajaj Finance. The subsidiary has demonstrated robust growth, with turnover rising from ₹46,938.80 crore in FY24 to ₹59,379.74 crore in FY25, and reaching ₹69,850.79 crore in FY26. The promoter's participation through warrants is exempt as a related party transaction under Regulation 2(zc) of the SEBI Listing Regulations, ensuring the process adheres to regulatory frameworks while reinforcing stakeholder confidence.