Bajaj Hindusthan Ltd to raise debt limit, raise funds

The Board of Directors of Bajaj Hindusthan Ltd at its meeting held on November 12, 2013, has approved seeking consent/approval of shareholders by way of postal ballot for authority to Board of Directors to borrow a sum not exceeding Rs. 7500 crore under Section 180(1) (c) of the Companies Act, 2013 and authority to Board of Directors pursuant to Section 180(1)(a) of the Companies Act, 2013 for creation of charges on the moveable and immoveable properties of the Company (both present and future) in respect of borrowings.

The Board approved issue of further shares by way of QIP, GDR/s, ADR/s, FCCB, etc. under Section 81(1A) of the Companies Act, 1956; and payment of minimum remuneration to Mr. Shishir Bajaj, Managing Director for a period of 3 years out of the present tenure of 5 years with effect from July 01, 2013, subject to approval of Central Government.

Shares of Bajaj Hindusthan Ltd was last trading in BSE at Rs.14.68, up by Rs.0.14 or 0.96%. The stock hit an intraday high of Rs.15.10 and low of Rs.14.55.

The total traded quantity was 9.64 lakhs as compared to 2 week average of 10.02 lakhs.

Source : Equity Bulls

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