Bajaj Auto Finance Ltd to repurchase 6% NCDs

Bajaj Auto Finance Ltd has announced that the Company has decided to repurchase from the open market, 6% fully paid Non-Convertible Debentures (NCDs) of the face value of Rs 500 each, which were allotted on Rights basis.

The repurchase of NCDs will be for an amount aggregating upto Rs 40 Crores and will be done during March 05, 2009 to March 18, 2009.

Last year, in the first tranche, the Company had repurchased NCDs during March 24, 2008 to March 26, 2008 for an amount aggregating Rs 102.69 Crores.

Now, in the second tranche, the Company intends to repurchase the NCDs during March 05, 2009 to March 18, 2009 upto Rs 40 Crores.

The stock was trading at Rs.53, down by Rs.1.25 or 2.30%. The stock hit an intraday high of Rs.54.50 and low of Rs.52.25.

The total traded quantity was 94 compared to 2 week average of 3425.

Source : Equity Bulls

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