Bajaj Electricals approves rights issue to raise up to Rs 350 crore

The board of directors of Bajaj Electricals on Monday approved rights issue to raise up to ₹350 crore. The board, including its duly constituted committee, will decide other terms in relation to the issue, including the price, rights entitlement ratio and the record date, the company said in a notice to the stock exchanges. Shares of Bajaj Electricals closed 0.32 per cent lower at ₹354.50 on the BSE.