Shares of Bajaj Corp jumped 5% touching the monthly high of Rs127, after the company said its promoters will reduce their stake to achieve minimum public shareholding of 25% from the present level of 15.25% by way of further issue of equity shares through Institutional Placement Programme ( IIP).
The board of directors of the company at its meeting held on April 03, have decided seeking approval of shareholders through postal ballot for the same,' the fast moving consumer goods company said.
As per the listing guidelines of 'Minimum Public Shareholding' norms, the private sector companies shall have a minimum public shareholding of 25%.
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The board of directors of the company at its meeting held on April 03, have decided seeking approval of shareholders through postal ballot for the same,' the fast moving consumer goods company said.
As per the listing guidelines of 'Minimum Public Shareholding' norms, the private sector companies shall have a minimum public shareholding of 25%.
....more info