BSE-NSE Ticker

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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