Kamalnayan Bajaj - page 36

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KamalnayanBajaj –Architect of theBajajGroup
When Jamnalal tookHindustanHousing public in
1937,Kamalnayan’s interest in the IPO (Initial Public
Offering) was cursory.Hismindwas pre-occupied
with a trip toColombo, his forthcoming engagement
toSavitri, and the battlewithhis parents tobe allowed
to go to theWest for under-graduate studies. As
Kamalnayanprepared for Bajaj Auto’s IPO in 1960, his
memories harkedback to those days.
Times had changed in the intervening years since his
father hadpassed away. Indianowhad aController
of Capital Issues. The stockmarket was buzzingwith
anticipation.Out of
habit,Kamalnayan kept
checking and rechecking
the nine page prospectus.
His eye paused at Point
5 onPage 1: “The
subscription list will open
at the commencement of
Bankinghours on the 14th
day ofNovember, 1960
andwill close at the close
of Bankinghours on the
19thday ofNovember,
1960, or earlier at the
discretion of theDirectors
but not before the close of
Bankinghours on the 16th
day ofNovember, 1960.”
Events raced ahead. An
EGM (extraordinary
generalmeeting) of the shareholderswas held on
Saturday,October 15, 1960 at 4.00pm at Bajaj Auto’s
then registered office at 134,Dr. AnnieBesantRoad,
Worli. The shareholders present wereRahulkumar
Bajaj, VinodkumarNevatia, Purshotam Jhunjhunwala
representingBachhraj &Co, LNPanpalia representing
Jamnalal Sons,NKFirodia andBMKhanna. Special
ResolutionNo 4 authorising the directors to obtain the
consent of theController of Capital Issues and issue
60,100 equity shares ofRs. 100 eachwas quickly
passed.Kamalnayanwas not present but he had
already vetted all details.
PROSPECTUS
1. Consent of the Central Government has been, obtained to this issue by an order of
which a complete copy is open to public inspection at theHeadOffice of the Company. It must
be distinctly understood that in giving this consent the Central Government do not take any
responsibility for thefinancial soundnessofany scheme.or for thecorrectnessofanyof the state-
mentsmade or opinions expressedwith regard to them.
2. ALicence has been obtained from the Central Government for effecting a substantial
expansion to the Company’s existing industrial undertaking of which a copy is open to public
inspection at the HeadOffice of the Company. It must be distinctly understood that in granting
this undertaking or for the correctness of any of the statements made or opinions expressed in
regard to it.
3. Acopyof thisProspectushaving attached theretodocuments as requiredunderSection
60 of the CompaniesAct, 1950, and specified hereunder has been delivered to the Registrar of
Companies,Maharashtra, for registration.
4. Applicationwillbemade to theBombayStockExchange forpermission todeal in and
for an official quotationof the shares of theCompany.
5. The subscription list will open at the commencement of Banking hours on the 14th
dayofNovember,1960andwillcloseat thecloseofBankinghourson the19thdayofNovember,
1960,or earlier at thediscretionof theDirectorsbutnotbefore the closeofBankinghourson the
16th day ofNovember, 1960.
BAJAJAUTOLIMITED
(Incorporatedunder the IndianCompaniesAct, 1913)
6. CAPITAL
AUTHORISED :-
1,00,000Shares ofRs. 100 each
. .
. .
. .
. .
Rs. 1,00,00,000
ALREADY ISSUED,SUBSCRIBEDANDPAIDUP :
9,900EquityShares ofRs. 100 each
. .
. .
. .
. .
Rs.
9,90,000
PRESENT ISSUE :
60,100EquityShares ofRs. 100 each
. .
. .
. .
. .
Rs.
60,10,000
As perSpecialResolution passed by theCompanyon 15thOctober
1960 theseShares are offered as follows :--
TOEXISTINGSHAREHOLDERS :
25,740EquityShares ofRs. 100 each at par
. .
. .
. .
. .
Rs.
25,74,000
Shares not takenupby the existing shareholders or their nominees
willbe subscribed by theDirectors and their friends.
FORPUBLICSUBSCRIPTION :
34,360EquityShares ofRs. 100 each offered at par to the public
under thisProspectus for subscription in cash
. .
. .
. .
. .
Rs.
34,36,000
Rs.
60,10,000
7. DIRECTORS
(1) SHRIKAMALNAYANBAJAJ
. .
Industrialist
31B,CarmichaelRoad,
(Chairman)
Bombay - 28
(2) SHRIMADANMOHANPRUIA
. .
Industrialist
96,NapeanSeaRoad,Bombay.
(3) SHRIRAMNATHPODAR
. .
Industrialist
PodarMansion, 10MarineDrive,
Bombay-1
(4) SHRISHANTANUL.KIRLOSKAR
. .
Industrialist
“Lakaki,”Poona - 5
(5) SHRIM.K.FIRODIA
. .
Industrialist
Navipeth,Ahmednagar.
(6) SHRIRAMESHWARPRASAD NEVATIA
Industrialist
PitalePrasad,WorliSeaFace.
(Ex-Officio)
Bombay -8
(7) SHRIV. J.SHAH
(Ex.Officio)
. .
Industrialist
41,BhulabhaiDesaiRoad,
Bombay - 26
Bajaj Auto IPOProspectus
Over-subscribed
Bajaj AutoShareCertificate
NOTE:No transfer of any portion of the shares comprised in this certificate can be registered unless accompanied by this certificate.
Incorporatedunder the IndianCompaniesActVII of 1913
AUTHORISED CAPITAL: Rs. 1,00,00,000
divided into 1,00,000 Ordinary Shares of Rs. 100 each
Certificate
No :
Number of
Shares :
Folio:
This is to certify that
is the Registered Holder of
BAJAJ AUTO LIMITED
subject to theMemorandumandArticles ofAssociation
thereof and that the sum ofRupees Fifty
has beenpaidupon eachof the said shares.
Givenunder theCommonSeal of the saidCompany atBombay
this dayof 1961.
Directors
Five Ordinary Share of Rupees One Hundred each
numbered inclusive in
1...,26,27,28,29,30,31,32,33,34,35 37,38,39,40,41,42,43,44,45,46,...124
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