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Mumbai, May 18

Bajaj Auto Finance Ltd has informed BSE that its board has proposed a rights offer to shareholders. The rights offer is in two parts — equity shares in the ratio of 6:10 and non-convertible debentures in the ratio of 1:4 with detachable warrants optionally convertible into equity shares.

The company would issue 1.26 crore equity shares in the ratio of 6:10 and 52.48 lakh non-convertible debentures in the ratio of 1:4. The company has recommended a dividend of Rs 4 per share for the year ended March 2006.

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