Recent Blog Entries

  •   Salman Khan: Swara Bhaskar is Very Talented #SalmanKhan #SwaraBhaskar #VeryTalented Salman Khan’s upcoming movie Prem Ratan Dhan Payo is under the direction of Sooraj Barjatya. Salman Khan and Sonam Kapoor are playing lead roles in the film. Swara Bhaskar is playing Salman's sister...
  • Nickname of Ranveer Singh on ‘Bajirao Mastani’ sets #Nickname #RanveerSingh #BajiraoMastanisets Ranveer Singh’s upcoming movie, ‘Bajirao Mastani’ is under the direction of by Sanjay Leela Bhansali. According to the latest update, Ranveer Singh has got a new nickname...
View All

Share with your Friends.

Sponsored Links

Bajaj Finserv to raise Rs 941 crore through rights issue

  • NEW DELHI: Diversified finance company Bajaj Finserv today said it plans to raise Rs 941 crore through a rights issue to fund its business growth.

    Issue of equity shares on a rights basis to its existing equity shareholders would aggregate to Rs 941 crore approximately, Bajaj Finserv said in a filing on the BSE.

    The Pune-based company has priced the proposed issue at Rs 650 per share.

    The rights issue entitlement ratio is one equity share for every 10 shares held as on the record date.

    The holding company, which is present in segments like lending to finance consumer durables, equipment and both life and general insurance, plans to plough the money to fund its share in its non-banking subsidiary.

    The company has fixed September 8, 2012, as the record date for the purpose of proposed rights issue of equity shares.

    The special committee constituted by the board also took note of the approval received from the FIPB ( foreign investment promotion board) on August 2, 2012, it said.

    FIPB's approval is for the issuance and allotment of equity shares up to 10.4 per cent of the equity of the company to persons resident outside of India including FIIs, NRIs and holders of Global Depository Receipts pursuant to the rights issue, it added.

Share with your Friends

(200 symbols max)

(256 symbols max)