In Griffiths elementary particle book (chapter 7, 'Quantum electrodynamics', equation 7.188), one gets the following equation for the vacuum polarization calculated to one loop correction.
$$\frac{e_{0}^{2}}{q^{2}}\left(1-\frac{e_{0}^{2}}{12\pi^{2}}\left[\ln\left(\frac{M^{2}}{m^{2}}\right)-f\left(\frac{-q^{2}}{m^{2}c^{2}}\right)\right]\right)$$
Here, $e_{0}$ is the bare charge of the electron, $m$ is its mass, $M$ is a cutoff parameter, $q$ is the momentum related to the specific Feynman diagram. Also, $f(q)$ is a finite function of $q$.
Now, the renormalization procedure at this point is to absorb the divergent $\ln\left(\frac{M^{2}}{m^{2}}\right)$ term by defining the physical charge $e$ of the electron as:
$$e^{2}=e_{0}^{2}\left(1-\frac{e_{0}^{2}}{12\pi^{2}}\ln\left(\frac{M^{2}}{m^{2}}\right)\right)\tag{1}$$
Here, it is usually stated that although $\lim_{M \to \infty}e_{0}=\infty$ and $\lim_{M \to \infty} \ln \left(\frac{M^{2}}{m^{2}}\right)=\infty$, $e$ converges to a finite value that can be measured in laboratory.
From my understanding of the procedure of limits, I don't understand how an infinite $e_{0}$ and $\ln\left(\frac{M^{2}}{m^{2}}\right)$ can give rise to a finite $e$ in equation $(1)$.
My argument is as following:
If $\lim_{M \to \infty} e_{0}^{2}\left(1-\frac{e_{0}^{2}}{12\pi^{2}}\ln\left(\frac{M^{2}}{m^{2}}\right)\right)$ is finite, and if $\lim_{M \to \infty}e_0^{2} =\infty$ then,
$$\lim_{M \to \infty}\left(1-\frac{e_{0}^{2}}{12\pi^{2}}\ln\left(\frac{M^{2}}{m^{2}}\right)\right)=0$$
$$\implies \lim_{M \to \infty}\left(\frac{e_{0}^{2}}{12\pi^{2}}\ln\left(\frac{M^{2}}{m^{2}}\right)\right)=1$$
$$ \implies \lim_{M \to \infty} \ln \left(\frac{M^2}{m^2}\right)= \lim_{M \to \infty}\left(\frac{12\pi^2}{e_{0}^{2}}\right)$$
$$=0$$
But we already know that $\lim_{M \to \infty} \ln \left(\frac{M^2}{m^2}\right)=\infty$.
Hence, the bare charge $e_0$ of the electron cannot be infinite.