Bajaj Finance up 4% on rights issue buzz

Bajaj Finance gained as much as 3.8 percent to touch an intraday high of Rs 1,380 on the Bombay Stock Exchange as the company is going to raise Rs 750 crore via rights issue of shares, reports NW18.

In an interview with CNBC-TV18, Rajeev Jain, CEO, Bajaj Finance, says that the company plans to raise Rs 750 crore, which will take care of our growth needs for the next 2.5-3 years and we will be well capitalized to fund our growth. Bajaj Finance, a subsidiary of Bajaj Finserv, is a non banking finance company engaged in consumer finance, SME finance and commercial lending. It is the largest financier of consumer durables in India. At 11:33 hours IST, the share rose 2.96 percent to Rs 1,368.75. It was trading 1.88 percent below its 52-week of Rs 1,394.95 that touched on November 13, 2012. Also Read
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