Stocks

Bajaj Finserv plans to raise Rs 940 cr via rights issue

Our Bureau Mumbai | Updated on November 17, 2017

Bajaj Finserv plans to raise Rs 940.44 crore through a rights issue of 1.44 crore equity shares.

Every shareholder holding 10 shares of Bajaj Finserv as on September 8 is eligible for one rights share. The issue has been priced at Rs 650 a share.

On Thursday, the scrip closed marginally down (0.81 per cent) at Rs 783.75, on the BSE. This translates into a gain of Rs 133.75 or 17 per cent on Thursday’s closing price.

Bajaj Finserv plans to invest Rs 750 crore from the issue proceeds to augment the capital base for its subsidiary Bajaj Finance Ltd and fulfil capital adequacy requirements.

The issue opens on September 21 and closes on October 8. JM Financial is the lead manager and Karvy, the registrar to the issue.

> raghavendrarao.k@thehindu.co.in

Published on September 06, 2012

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