Bajaj Holdings & Investment allots 5251000 Equity Shares upon conversion of warrants

Bajaj Holdings & Investment Ltd has announced that the Company had, pursuant to board and shareholders' approvals and other statutory and regulatory approvals, issued and allotted 10,110,000 preferential warrants to its promoters on July 28, 2009 at an issue price of Rs. 449.58 per equity share, 25% of the issue price was paid on allotment of warrants in July 2009. The Company has issued and allotted 4,859,000 equity shares upon conversion of an equivalent number of warrants in March 2010.

The specified promoters have applied for conversion of balance 5,251,000 warrants into equity shares and have paid balance 75% i.e. Rs. 337.185 per equity share aggregating Rs. 177.06 Crore.

The Shares Allotment Committee at its meeting held on January 21, 2011 has made the allotment of 5,251,000 equity shares of Rs. 10/- each to the specified Promoters.

Post allotment, the paid up capital of the Company has increased from Rs. 1,060,425,100 to Rs. 1,112,935,100/-.

The stock was trading at Rs.748.95, up by Rs.8.30 or 1.12%. The stock hit an intraday high of Rs.753 and low of Rs.738.

The total traded quantity was 0.12 lakhs compared to 2 week average of 0.19 lakhs.

Source : Equity Bulls

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