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Bajaj Electricals successfully completes rights issue

Capital Market 

Raises capital of Rs 349.94 crore

Bajaj Electricals announced the successful completion of its Rights Issue of Equity Shares, which opened for subscription on 18 February 2020 and closed on 03 March 2020 (the Rights Issue). The Issue saw participation from most of its existing large institutional investors, as well as retail investors. The Rs 349.94 crore Rights Issue offered an opportunity to all its existing shareholders to participate in the capital raise, with the Promoters committing to take up their rights entitlement. Pursuant to the Rights Issue, the Company has allotted 11287956 equity shares on rights basis at a price of Rs.310 per share on 13 March 2020.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 23 2020. 15:25 IST