Bajaj Auto Finance is planning to raise around Rs 321.20 crore by issuing equity shares, preferential shares and warrants to the promoters and financial investors.According to a release issued by Bajaj Auto Finance to the NSE today, the company will issue 10,03,260 fully paid equity shares of Rs 10 each at Rs 410 per share to its promoter - Bajaj Auto - to raise Rs 41 crore."The company will also issue 30,06,540 warrants to Bajaj Auto.Each warrant is convertible into one fully paid equity share of Rs 10 each on payment of an aggregate price of Rs 410 per share. The option to convert warrants into equity shares shall be exercised within 18 months from the date of their allotment," the release said. Bajaj Auto Finance will raise around Rs 123 crore via the warrants.The company will issue 10,35,000 fully paid shares to Copa Cabana and El Dorado Holdings II at Rs 450 per share to raise Rs 93.20 crore."The company will also issue 7,15,000 shares each to Tiger Global Management LLC and affiliated funds and Blue Ridge Partnership at Rs 450 per share," the release said. The move is expected to net the company Rs 64 crore."The aforesaid preferential allotment shall be subject to the approval of shareholders at the EGM scheduled to be held on January 12, 2006," the release added.JM Morgan Stanley was the advisor to Bajaj Auto Financefor the fund raising exercise, the release said.Our Web Bureau adds: The stock, which touched a 52-week high of Rs 458 yesterday, declined Rs 4 to Rs 447 on the BSE today. The counter logged a volume of 33,820 shares as against the two-week average quantity of 25,860 shares.The promoters hold around 47% stake in the company according to the shareholding pattern filed with the BSE for the quarter ended September 30, 2005. The company had an equity capital of Rs 16.49 crore split into 1.649 crore shares of Rs 10 each.Rahul Bajaj, chairman of Bajaj Auto, had earlier in the week said the plan is to spin off the investments of the company to a seperate investment firm, and also spinning off the stakes held by the company in Bajaj Auto Finance, Maharashtra Scooters and insurance ventures to the new firm.Sanjiv Bajaj is likely to head the new investmet firm, which is likely to be finalised by June 2006.