Financial Daily from THE HINDU group of publications
Sunday, Dec 18, 2005


News
Features
Stocks
Shipping
Archives
Google

Group Sites

Corporate - Preferential Allotments


Bajaj Auto Finance to raise Rs 321 cr thru pref allotment

Our Bureau

Mumbai , Dec. 17

BAJAJ Auto Finance Ltd (BAFL) plans to raise Rs 321 crore from a preferential allotment of equity shares and warrants to its promoter and select financial investors.

The move is ahead of its proposed rights issue of Rs 900-950 crore, the ratio and pricing of which would be decided around end-January or early-February.

According to a statement, the company will issue 10,03,260 fully paid equity shares of face value Rs 10 each for cash to Bajaj Auto Ltd (BAL) at a price of Rs 410 per share.

Also for BAL's taking are 30,06,540 warrants, each convertible into one fully paid equity share of face value of Rs 10 each on payment of aggregate price of Rs 410 per share (including premium of Rs 400 per share). The warrants are convertible after 18 months.

Further, 10,35,000 fully paid equity shares of face value Rs 10 each for cash would be allotted to Copa Cabana and El Dorado Holdings, at a price of Rs 450 per share. Another set of 7,15,000 fully paid equity shares of similar face value would be allotted at Rs 450 per share to Tiger Global Management LLC (and affiliated funds) and Blue Ridge Ltd Partnership and or Blue Ridge Offshore Master Ltd Partnership.

Bajaj Auto and its subsidiaries now hold 46.76 per cent equity in Bajaj Auto Finance. It is understood that after the first round of preferential equity share allotment, that would fall a bit to 41.5 per cent.

The paid-up capital of BAFL, at present, is Rs 16.50 crore. It would move up to Rs 20.99 crore after the preferential allotment of equity shares.

More Stories on : Preferential Allotments

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
Bharat Coking Coal to hike production capacity for SAIL's consumption


Kalyani Brakes EGM clears sale of 2-wheeler brake manufacturing unit
Bajaj Auto Finance to raise Rs 321 cr thru pref allotment
Palkhivala Arbitration Centre to be launched on December 21
Ranbaxy loses Lipitor case — US court favours Pfizer on `patent infringement'
Deepak Nitrite okays equity issue
`Institutional investors must watch corporate governance norms'
Vedanta board clears $2.1-b aluminium smelter project
Sethusamudram Corpn, Suez body sign pact
Zydus Cadila, Bharat Serums to develop new drug delivery system
Coal gasification projects — ONGC may rope in Shell as joint venture partner
Tata Steel plans to set up jt venture company with BCCL
NCL fixes rights offer ratio


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line