Bajaj Auto Finance Ltd fixes record date for rights issue

Bajaj Auto Finance Ltd has announced that the company has fixed November 20,2006 as the Record Date for the purpose of Rights Issue. The key Rights Issue terms as approved in the meeting of the Committee of Directors held on November 02,2006 are as follows: 1) 12,596,076 equity shares of the face value Rs.10/- each at Rs.325/- per share including a premium of Rs.315/- per equity share aggregating Rs.4,093,724,700/- to the equity shareholders on rights basis in the ratio of 6 equity shares for every 10 equity shares held on the record date. 2) 5,248,365 non-convertible debentures ("NCDs") of the face value of Rs.500/- each aggregating Rs.2,624,182,500/- with detachable warrants in the ratio of 1 NCD with detachable warrant for every 4 equity shares held on the record date. a) The face value of the NCDs is Rs.500/- per NCD and the interest would be 6% per annum payable up to the redemption of the NCD which is 3 years from the date of allotment. b) The Warrant Exercise Price is Rs.500/- per Warrant. The warrant exercise period would commence after 12 months from the date of allotment of warrant to the end of 35 months from the date of allotment of warrant.

Source : Equity Bulls

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