Bajaj Finserv

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Bajaj Finserv Limited
Company type Public
ISIN INE918I01026
Industry Financial services
FoundedMay 2007(17 years ago) (2007-05) [1]
Founder Jamnalal Bajaj
Headquarters
Pune, Maharashtra, India
Key people
 Sanjiv Bajaj
(Chairman & Managing Director)
Products
RevenueIncrease2.svg₹82,072 crore (US$10 billion) [3]  (2023)
Increase2.svg₹16,809 crore (US$2.1 billion) [3]  (2023)
Increase2.svg₹12,208 crore (US$1.5 billion) [3]  (2023)
Total assets Increase2.svg₹405,509 crore (US$51 billion) [1]  (2023)
Total equity Increase2.svg₹46,407 crore (US$5.8 billion) [1]  (2023)
Number of employees
105 (2022) [4]
Parent Bajaj Group [1]
Subsidiaries Bajaj Finance [5]
Bajaj Allianz General Insurance
Bajaj Allianz Life Insurance
Bajaj Housing Finance [1]
Bajaj Finserv Markets [6]

Bajaj Finserv Asset Management Company
Bajaj Finserv Direct (Bajaj Markets)

Bajaj Finserv Health

Contents

Website www.bajajfinserv.in

Bajaj Finserv Limited is an Indian non-banking financial services company [7] [8] headquartered in Pune. It is focused on lending, asset management, wealth management and insurance. [9] [10]

History

The financial services and wind energy businesses were transferred to Bajaj Finserv Limited (BFL) as part of the concluded demerger from Bajaj Auto Limited, approved by the High Court of Judicature at Bombay by its order dated 18 December 2007. [11] [12] It is a financial conglomerate with stakes in the financing sector (Bajaj Finance), [13] [14] the life insurance business (Bajaj Life Insurance), [15] the general insurance business (Bajaj General Insurance) [16] [17] and, the mutual fund business (Bajaj Finserv Mutual Funds). [18] [19]

Bajaj Holdings and Investments Limited (BHIL) came into existence when the original company separated its auto and finance assets. This new entity, BHIL is the parent company which holds 39.29% stake in Bajaj Finserv [20] and now holds surplus cash and investments with the purpose of providing financial support to the auto and/or finance business or exploring fresh business prospects. The BHIL has been registered as a Non–Banking Financial Company (NBFC) under the Registration No. N–13.01952 dated 29 October 2009 with Reserve Bank of India (RBI). [21]

Starting in 2017, Bajaj Finserv adopted blockchain technology for services like travel insurance, allowing claim resolution before customer registration. [22] By 2023, they had extended blockchain's utility to enhance trader and customer connections. [23]

Apart from financial services, it is also active in wind energy generation with an installed capacity of 65.2 MW. [5] [24] [25] In the quarterly results for June 2022, the company's board of directors has approved the sub-division of its equity shares in a ratio of 1:5. [26]

During a block deal in the last week of December 2022, promoter Jamnalal Sons increased its holdings in the company. In the open market, the promoter purchased equity shares worth a total of ₹100.41 crore. However, the other promoter, Rishab Family Trust, was able to sell a portion of the company's shares. [27]

Subsidiaries

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References

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  2. ↑ "Apply for Loans, EMI Finance, Credit Card and Insurance – Bajaj Finserv". bajajfinserv.in.
  3. 1 2 3 "Bajaj Finserv Consolidated Profit & Loss account, Bajaj Finserv Financial Statement & Accounts". moneycontrol.com.
  4. ↑ "Bajaj Finserv Company Overview". Forbes.com. Retrieved 20 March 2023.
  5. 1 2 "Bajaj Finserv Chairman's Speech > Finance - Investments > Chairman's Speech from Bajaj Finserv - BSE: 532978, NSE: BAJAJFINSV". www.moneycontrol.com.
  6. ↑ "ACKO partners with Bajaj Finserv's subsidiary – Finserv MARKETS". ibsintelligence.com.
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  10. ↑ "Bajaj Finserv to float a housing finance company" The Times of India. Retrieved 2014-11-03.
  11. ↑ "Bajaj Auto demerger approved" The Economic Times. Retrieved 2014-11-03.
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  15. ↑ "Bajaj Allianz General Insurance: History, Products and Services, Benefits". surecuet.com. Retrieved 22 March 2023.
  16. ↑ Gandhi, Kajal; Narnolia, Vishal; Sawant, Sameer (22 September 2021). "Bajaj Finserv (BAFINS): Improving prospects of key subsidiaries to add value" (PDF). ICICIDirect . Retrieved 31 May 2022.
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  18. ↑ "Bajaj Finserv Mutual Fund launched". The Economic Times. 6 June 2023. ISSN   0013-0389 . Retrieved 28 June 2023.
  19. ↑ "Bajaj Finserv forays into mutual funds". The Hindu. 6 June 2023. ISSN   0971-751X . Retrieved 28 June 2023.
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  25. ↑ "Bajaj Finserv Ltd windfarm (India)" The WindPower. Retrieved 2014-11-03.
  26. ↑ Nahar, Pawan. "Bajaj Finserv announces stock split, bonus issue for shareholders". The Economic Times. Retrieved 31 August 2022.
  27. ↑ Livemint (27 December 2022). "Promoter buys stake in Bajaj Finserv for ₹100.41 cr in block deal". mint. Retrieved 31 December 2022.
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  33. ↑ Bajaj Finserv justifies the rise in share price
  34. ↑ "About Bajaj Allianz General Insurance" . Retrieved 2 December 2015.
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  37. ↑ "Bajaj Finserv gets Sebi license to start mutual fund business". Business Today. 1 March 2023. Retrieved 27 April 2023.
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  39. ↑ "Loans on Bajaj Markets: Address diverse needs with 9 products". Asian News International . Retrieved 28 June 2023.
  40. ↑ "Bajaj Finserv enters healthtech solutions business". The Indian Express. 22 September 2020. Retrieved 27 April 2023.
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