Bajaj Auto Finance to raise Rs950 crore

Mumbai: Bajaj Auto Finance will raise resources of up to Rs950 crore through the issue of equity shares, non-convertible debentures and warrants on a rights basis to its shareholders.

The board or its committee would decide the relevant terms at a later date. According to the company, the board has also decided to issue, subject to shareholder approval, up to 80,00,000 equity shares / warrants of the company on a preferential basis to its promoter, Bajaj Auto, and a few other financial institutions.

 Shares of Bajaj Auto moved up by Rs16.30 to Rs425.60 on BSE.