Mumbai: Bajaj Auto Finance has said that it will repurchase non-convertible debentures (NCDs) worth up to Rs40 crore.
In a filing to the Bombay Stock Exchange (BSE), the company said that it has decided to repurchase NCDs of face value of Rs500 each from the open market and the repurchase would be done during 5-18 March, 2009.
The company is purchasing these NCDs in the second tranche. Last year, in the first tranche, the company had repurchased NCDs for an amount aggregating Rs102.69 crore, during 24-26 March, 2008.
Shares of Bajaj Auto Finance were trading at Rs52.90, down 2.49% on the BSE.