Financial Daily from THE HINDU group of publications
Tuesday, Dec 13, 2005
Financial Daily from THE HINDU group of publications Tuesday, Dec 13, 2005 |
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Money & Banking
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NBFCs Bajaj Auto Finance to raise Rs 950 cr Our Bureau
Mumbai , Dec 12 BAJAJ Auto Finance Ltd on Monday informed the BSE that its board has decided to raise resources up to Rs 950 crore through the issue of various instruments such as equity shares, non-convertible debentures and warrants on a rights basis to its shareholders. The board or its committee would decide the relevant terms at a later date. According to the statement, the board has also decided to issue, subject to shareholder approval, up to 80,00,000 equity shares/warrants of the company on a preferential basis to its promoter, Bajaj Auto Ltd, and a few other financial institutions. An EGM of members would be held on January 12, 2006. Shares of Bajaj Auto moved up by Rs 16.30 to Rs 425.60 on BSE on Monday.
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