Bajaj Finance fell 0.23% to Rs 4,649.50 at 9:44 IST on BSE, with the stock sliding amid volatility after the company said it has approved the allotment of 32.74 lakh equity shares at Rs 4,275 per share, to eligible qualified institutional buyers.
The announcement was made after market hours yesterday, 11 June 2015.
Meanwhile, the S&P BSE Sensex was down 2.23 points or 0.01% at 26,368.75.
On BSE, so far 569 shares were traded in the counter as against average daily volume of 4,574 shares in the past two weeks.
The stock was volatile. The stock fell as much as 0.75% at the day's low of Rs 4,625 so far during the day. The stock rose as much as 0.63% at the day's high of Rs 4,690 so far during the day. The stock had hit a record high of Rs 4,770 on Thursday, 11 June 2015. The stock had hit a 52-week low of Rs 1,910 on 17 June 2014.
Bajaj Finance said that the allotment committee of its board of directors at a meeting held yesterday, 11 June 2015, approved the allotment of 32.74 lakh equity shares of face value Rs 10 each to eligible qualified institutional buyers (QIBs) at the issue price of Rs 4,275 per equity share, aggregating to approximately Rs 1400 crore.
More From This Section
Bajaj Finance's net profit rose 26.8% to Rs 230.98 crore on 31.4% growth in total income to Rs 1445.05 crore in Q4 March 2015 over Q4 March 2014.
Bajaj Finance is a diversified non-banking financial company.
Powered by Capital Market - Live News
