Bajaj Finance Ltd approves QIP price of Rs. 1690

The Special Committee of Bajaj Finance Ltd at its meeting held today i.e. September 8, 2017 has approved the closure of the issue period for the QIP today i.e. September 8, 2017.

The committee determined and approved the issue price of Rs. 1,690 per Equity Share (including a premium of Rs. 1,688 per Equity Share) which is at a discount of 4.60% (i.e. Rs. 81.90 per Equity Share), to the Floor Price of Rs. 1,771.90 per Equity Share determined as per the formula prescribed under Regulation 85(1) of the SEBI ICDR Regulations for the Equity Shares to be allotted to eligible qualified institutional buyers in the QIP and approved and adopted the placement document dated September 8, 2017 in connection with the QIP.

Shares of Bajaj Finance Limited was last trading in BSE at Rs.1893.25 as compared to the previous close of Rs. 1958.8. The total number of shares traded during the day was 178954 in over 6910 trades.

The stock hit an intraday high of Rs. 1989 and intraday low of 1883. The net turnover during the day was Rs. 342335805.

Source : Equity Bulls

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