Bajaj Finance approves issue of 6 million warrants to Bajaj Finserv Ltd

The Board of Directors of Bajaj Finance Ltd at its meeting held on July 13, 2011, has approved the issuance of 60,00,000 nos. of warrants on preferential basis to the promoter- Bajaj Finserv Ltd. at an issue price of Rs. 651/- per warrant, which is above the minimum price computed in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2009.

The stock closed the day at Rs.686.05, up by Rs.57.25 or 9.10%. The stock hit an intraday high of Rs.727.70 and low of Rs.634.05.

The total traded quantity was 286477 compared to 2 week average of 2232.

Source : Equity Bulls

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