Bajaj Finance allots preference shares to promoter for Rs408cr

Bajaj Finance has alloted over 92 lakh shares for Rs 408.11 crore to its promoter Bajaj Finserv upon conversion of warrants issued to them on preference basis.
The Allotment Committee of the Board of Directors has, at its meeting today, allotted 92,50,000 equity shares to the promoter, Bajaj Finserv on conversion of warrants issued to them on preferential basis at a price of Rs 441.20 per warrant, Bajaj Finance said in a regulatory filing.
These number of warrants and exercise price thereof are as adjusted for sub-division of shares and issue of bonus shares in September 2016, it added.
Bajaj Finserv stock closed 0.57 per cent up at Rs 2,926.35, while Bajaj Finance ended 0.96 per cent down at Rs 848.45 on BSE.