Comments
Market regulator 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 a rights issue, shares are issued to the existing investors as per their holding at a 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 January 8 as per the latest update by the market regulator.
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.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.