Corporate

Bajaj Hindusthan cuts debt by Rs 710 cr

Sugar major Bajaj Hindusthan today said it has fully utilised Rs 710 crore raised by private placement of shares for repayment of its debt in accordance with the terms of the issue. - India"s demand for sugar led to higher global price - A double whammy for sugar factories - Sugar stocks plunge on low rain, softening global prices - Cane output takes a hit in Gujarat - Govt tells HC it needs six months to fix sugar price - Karnataka sugar mills to raise crushing capacity The company had issued over 3.54 crore shares to the potential institutional buyers at Rs 204 a piece, totaling to Rs 710 crore, Bajaj Hindusthan said in a filing to the Bombay Stock Exchange (BSE). It has utilised in full for repayment of debt with the terms of the issue, resulting into reduction in the indebtedness of the company by the same amount, the BSE filing added.

Same Day Loans commented:

Informative post.Bajaj Hindustan has utilized 710 crores, it is very nice to hear.It is resulting in reduction in indebtedness.

24.01.2012


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