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Thursday, January 7, 2010

Bajaj Hind looks at raising up to $250 mn: Sources

Mumbai-based sugar and ethanol manufacturing company Bajaj Hindusthan Ltd (BHL), is looking at raising up to USD 250 million, sources inform CNBC-TV18. Of the USD 250 million, USD 100 million will be raised via qualified institutional placement (QIP) and USD 150 million via convertible bonds.

It has also been learnt that JP Morgan and Citi are likely to be the bankers for the issue. There would be an equity dilution of nearly 10% if USD 100 million is raised at current market price (CMP), sources say.

However, Bajaj Hindusthan refused to comment on the issue.
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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 09
22:30 10-Year Note Auction 1 4.435% 4.310%
23:30 FOMC Minutes 3
Thursday, Apr 10
02:20 Fed's Hammack speech 2
03:00 Fed's Kashkari speech 2
04:31 RICS Housing Price Balance 1 2% 8% 11%
15:30 RBA Governor Bullock speech 3
18:00 Initial Jobless Claims 4-week average 1 223K
18:00 Initial Jobless Claims 2 223K 219K
18:00 Continuing Jobless Claims 1 1.880M 1.903M
18:00 Building Permits (MoM) 1 -0.8% -3.2%
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