Bajaj Auto Finance allots shares on conversion of warrants

Bajaj Auto Finance Ltd has announced that the Committee of Directors (CoD)of the Company at its meeting held on March 29, 2007 has allotted 17,58,600 Equity Shares of Rs 10/- each for cash at a price of Rs 410/- (including a premium of Rs 400/-) per share to the Promoters - Bajaj Auto Ltd against the conversion of 17,58,600 Warrants opted by them out of 30,06,540 Warrants allotted to them on preferential basis on January 18, 2006.

Bajaj Auto Ltd had earlier paid an amount equal to 10% of the issue price i.e., Rs 41/- per Warrant on the date of allotment of Warrants viz., January 18, 2006 in terms of SEBI Guidelines for Preferential Issues and has now paid the balance amount of Rs 369/- per Warrant on 17,58,600 Warrants at the time of their conversion.

The new Equity Shares shall rank pari passu in all respects with the existing shares of the Company.

Consequent upon the said allotment of 17,58,600 Equity Shares, the paid up capital of the Company stands increased to 3,53,48,136 fully paid Equity shares of Rs 10/- each aggregating Rs 35,34,81,360/-.

Source : Equity Bulls

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