6434

Sebi clears Bajaj Finance rights issue to raise up to Rs.750cr

Firm plans to use the proceeds of the issue for strengthening its capital base
PTI Mail Me
Comment E-mail Print Share
First Published: Mon, Jan 14 2013. 10 33 PM IST
Bajaj Finance had filed draft documents with Sebi in November to raise up to `750 crore through a rights issue. Photo: Abhijit Bhatlekar/Mint
Bajaj Finance had filed draft documents with Sebi in November to raise up to Rs.750 crore through a rights issue. Photo: Abhijit Bhatlekar/Mint
Mumbai: Market regulator Securities and Exchange Board of India (Sebi) has given its go-ahead to the non-banking finance company Bajaj Finance’s proposed rights issue to raise up to Rs.750 crore.
In rights issue, shares are issued to existing investors as per their holding at pre-determined price and ratio.
Bajaj Finance had filed draft documents with Sebi in November to raise up to Rs.750 crore through a rights issue. Sebi issued its final observations on the draft offer documents on 8 January as per the latest update by the market regulator.
Sebi’s observations are necessary for the companies to launch rights issues.
Bajaj Finance, a subsidiary of Bajaj Finserv, is engaged in the business of consumer finance, SME finance and commercial lending.
The company plans to use the proceeds of the issue for strengthening its capital base. JM Financial Institutional Securities is acting as lead manager to the issue, while Karvy Computershare is the registrar.
Earlier in August, Sebi had given its approval to Bajaj Finserv to raise up to Rs.1,000 crore through rights issue.
Comment E-mail Print Share
First Published: Mon, Jan 14 2013. 10 33 PM IST
More Topics: Bajaj Finance | rights issue | Sebi | shares |
blog comments powered by Disqus
  • Wed, Jul 23 2014. 06 06 PM
  • Wed, Jul 16 2014. 06 10 PM
ALSO READ close

Sebi steps up action on ponzi schemes

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved