Bajaj Electricals Limited issued equity shares at a price of Rs 310 per rights equity share (including a premium of Rs 308 per rights equity share) aggregating to Rs 3,499.94 million ($47.5m).

Bajaj Electricals Limited … announces the successful completion of its Rights Issue of Equity Shares, which opened for subscription on February 18, 2020 and closed on March 3, 2020 (the “Rights Issue”). The Issue saw participation from most of its existing large institutional investors, as well as retail investors. The ~INR 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.

— Equitybulls

Khaitan & Co advised Bajaj Electricals Limited led by a team of executive director Sudhir Bassi, partner Madhur Kohli, principal associate Oishik Bagchi, associate Devarshi Mukhopadhyay, associate Adrika Dhawan.

Edelweiss Financial Services Limited acted as the lead manager to the rights issue.

2020-03-13

Deal value: USD 47.5 million

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