 "Bajaj Finance sets floor of Rs 4,407.34 for Rs 1,400 cr QIP issue")
Bajaj Finance has set a floor price of Rs 4,407.34 a equity share for its Rs 1,400-crore qualified institutional placement (QIP) issue, the company informed the BSE.
It said subsequent to the approval of the board in April and the approval of the shareholders in May for the QIP, a special committee of the company on Friday approved the preliminary placement document and authorised the opening. The issue has not closed yet.
The company declined to comment on the issue. JM Financial is the lead manager to the issue.
For the fourth quarter ended March 31, 2015 the net profit of Bajaj Finance rose 26.85 per cent to Rs 230.98 crore as against Rs 182.09 crore during the same quarter of the previous fiscal.
The shares of Bajaj Finance closed at Rs 4,456.85 on the BSE on Friday, up 2.65 per cent compared with previous close.
It said subsequent to the approval of the board in April and the approval of the shareholders in May for the QIP, a special committee of the company on Friday approved the preliminary placement document and authorised the opening. The issue has not closed yet.
The company declined to comment on the issue. JM Financial is the lead manager to the issue.
For the fourth quarter ended March 31, 2015 the net profit of Bajaj Finance rose 26.85 per cent to Rs 230.98 crore as against Rs 182.09 crore during the same quarter of the previous fiscal.
The shares of Bajaj Finance closed at Rs 4,456.85 on the BSE on Friday, up 2.65 per cent compared with previous close.
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