LIC Invests ₹5000 Cr in Bajaj Finance NCDs

Life Insurance Corporation of India (LIC) has subscribed to 500,000 Non-Convertible Debentures (NCDs) of Bajaj Finance Limited, each with a face value of ₹100,000. The total investment amounts to ₹5000 crores. The funds raised by Bajaj Finance Limited will be utilized for general business purposes, including augmenting long-term resources, financing activities, repaying existing loans, capital expenditure, and working capital requirements. The acquisition is not a related party transaction and is conducted at arm's length. The NCDs mature on August 27, 2026.