Bajaj Finance raises $1.25 billion, Tata Power names new CEO, Aurobindo gets FDA flag

what happened

According to Moody's, Bajaj Finance, India's biggest private non-bank lender, launched a qualified institutional placement on Wednesday to raise up to ₹11,700 crore, about $1.25 billion. The indicative price of ₹1,025 per share sits 5% below the last NSE close and above SEBI's floor of ₹992.25.

Tata Power named Sanjay Banga, currently president of its renewables unit, as CEO-designate. The board approved his move to managing director and CEO for a five-year term from May 1, 2027, pending shareholder approval.

Kutch Copper, a unit of Adani Enterprises, received Veramark Assurance certification, making it the first Indian producer recognised under the global responsible copper framework. Sandur Manganese won environmental clearance to lift iron ore capacity to 9.42 million tonnes a year, while cutting manganese ore capacity to 0.733 million tonnes. Aurobindo Pharma said the US FDA rated an inspection of its Lannett Company unit in Seymour, Indiana, as official action indicated (OAI), and that it answered all four observations on time.

why it matters

The OAI classification is the most market-sensitive item here, since it typically signals heightened regulatory scrutiny of a manufacturing site that supplies US products. Bajaj Finance's placement adds fresh share supply, while Alivus expects to close its 76% stake purchase in IQGen-X Pharma around December 6.

market impact

Aurobindo Pharma: FDA OAI status adds regulatory risk for the shares; Bajaj Finance: new share supply from the placement

• ▼Aurobindo Pharma shares pressure down — regulatory scrutiny of its US unit weighs on sentiment

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