Bajaj Holdings fixes price as Rs 449.58 for preferential issue

Bajaj Holdings & Investment Ltd has announced that pursuant to the authority given by the shareholders at their meeting held on July 16, 2009, the Board of Directors of the Company at its meeting held on July 16, 2009, has determined the issue price of Rs 449.58 per share for the preferential issue of upto 10,110,000 Warrants to the promoters / entity / entities of promoter group.

Each warrant entitles the warrant-holder to subscribe for and be allotted one equity share of the Face Value of Re 10/- each at a price of Rs 449.58 per share, being the minimum price computed in accordance with SEBI Preferential Issue Guidelines.

The stock closed on Friday at Rs.428.60, up by Rs.27.40 or 6.83%. The stock hit an intraday high of Rs.447.90 and low of Rs.412.

The total traded quantity was 70095 as compared to 2 week average of 34642.

Source : Equity Bulls

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