Bajaj Auto Finance rights issue on, closes on January 22, 2007

Bajaj Auto Finance Ltd has announced about the following:

The Company has made an offer to its shareholders on a rights basis of 12,596,076 Equity shares of Rs 10/- each in the ratio of 6:10 at a premium of Rs 315/- per share and 5,248,365 6% Non convertible debentures of Rs 500 each in the ratio of 1:4 with detachable warrants optionally convertible into equity shares.

This issuance would realize a total sum of about Rs 672 crores.

The Rights Issue of Equity Shares and Non Convertible Debentures with detachable warrants, which was to close on January 15, 2007, will now close on January 22, 2007 in view of the bank holidays in Southern States.

The Letter of Offer of Company's Rights Issue of Equity Shares and NCD with Detachable Warrants has been filed with the designated stock exchange. The Rights Issue is currently open and closes on January 22, 2007.

Source : Equity Bulls

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