Bajaj Auto Finance to raise Rs950 crore
Mumbai: Bajaj Auto Finance will raise resources of up to Rs950 crore through the issue of equity shares, non-convertible debentures and warrants on a rights basis to its shareholders.

The board or its committee would decide the relevant terms at a later date.

According to the company, the board has also decided to issue, subject to shareholder approval, up to 80,00,000 equity shares / warrants of the company on a preferential basis to its promoter, Bajaj Auto, and a few other financial institutions.

Shares of Bajaj Auto moved up by Rs16.30 to Rs425.60 on BSE.
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Eastern Silk to issue Rs 200-crore FCCBs
Kolkata: Eastern Silk is planning a Rs80-crore capital expenditure for raising its silk fabric producing capacity at its existing unit in Bangalore and setting up a new unit for carpet and made-ups such as curtains and pillow covers.

To finance this capital expenditure and to prepay a significant portion of its secured loans the company has planned to issue foreign currency convertible bonds worth around Rs200 crore.

Though the proposed issue is yet to be finalised, a broad resolution to this effect is being placed at the company's AGM to be held on December 30.

The company stock today closed at Rs205.60 on the NSE, down 1.25 per cent with a traded quantity of 63,341 shares.
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Sharekhan to enter into tie-ups with banks for online trading
Mangalore: Stock broking company Sharekhan is planning to enter into agreements with leading banks in the country to provide online trading facility to bank customers.

At present Sharekhan has an agreement with Union Bank of India to this effect.

Now Sharekhan is planning to enter into such tie-ups with major banks in the country. One such tie-up is likely to materialise with a private sector bank in two weeks' time, officials said.

Such tie-ups will not entail any additional investments to the banks. Banks can save on investments on setting up online trading infrastructure, he said.

Sharekhan's recent agreement with Union Bank of India has helped the bank's customers to establish connectivity with the company's services. The service is targeted at the bank's customers who invest and trade in shares.

Sharekhan has around 1.5 lakh customers and is planning to add another two lakh customers during the year on a pan-India basis.
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