Bajaj Electricals raises Rs 161 cr via QIP

Bajaj Electricals today said it has raised Rs 160.79 crore by issuing shares to qualified institutional buyers.

The issue committee at its meeting held on December 9 had approved the allotment of 20.48 lakh shares, at Rs 785 a piece to qualified institutional buyers (QIB)s, aggregating to Rs 160.79 crore, Bajaj Electricals said in a filing to the Bombay Stock Exchange.

The issue opened on December 7 and closed on December 9, 2009.

Shares of Bajaj Electricals were trading at Rs 797 on the BSE, up 0.70 per cent from its previous close.