Bajaj Auto Finance - Outcome Of CoD Meeting

Bajaj Auto Finance Ltd has informed that the Committee of Directors (CoD)of the Company at its meeting held on July 17, 2007 has allotted 12,47,940 Equity Shares of Rs 10/- each for cash at a price of Rs 410/- (including a premium of Rs 400/-) per share to the Promoters - Bajaj Auto Ltd against the conversion of balance 12,47,940 Warrants opted by them. With this allotment, the entire 30,06,540 Warrants allotted to them on preferential basis on January 18, 2006 now stand converted into equity shares. Earlier, 17,58,600 Warrants were converted into equity shares in March 2007.

Bajaj Auto Ltd had earlier paid an amount equal to 10% of the issue price i.e., Rs 41/- per Warrant on the date of allotment of Warrants viz., January 18, 2006 in terms of SEBI Guidelines for Preferential Issues and has now paid the balance amount of Rs 369/- per Warrant on 12,47,940 Warrants at the time of their conversion.

The new Equity Shares shall rank pari passu in all respects with the existing shares of the Company.

Consequent upon the said allotment of 12,47,940 Equity Shares, the paid up capital of the Company stands increased to Rs 36,59,60,760/- dividend into 36596076 fully paid Equity shares of Rs 10/- each.