Bajaj Finserv

Not to be confused with Bajaj Finance.

Bajaj Finserv Limited

Bajaj Finserv's headquarters in Pune
Company type	Public
Traded as	BSE:  532978 NSE:  BAJAJFINSV NSE NIFTY 50 Constituent
ISIN	INE918I01026
Industry	Financial services
Founded	May 2007;17 years ago (2007-05) [1]
Founder	Jamnalal Bajaj
Headquarters	Pune, Maharashtra, India
Key people	Sanjiv Bajaj (chairman & Managing Director)
Products	Insurance General insurance Health insurance Vehicle insurance Travel insurance Home insurance Life insurance Mortgage loans Investment management Asset management Mutual funds Credit cards [2]
Revenue	₹82,072 crore (US$9.8 billion) [3]  (2023)
Operating income	₹16,809 crore (US$2.0 billion) [3]  (2023)
Net income	₹12,208 crore (US$1.5 billion) [3]  (2023)
Total assets	₹405,509 crore (US$49 billion) [1]  (2023)
Total equity	₹46,407 crore (US$5.6 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
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), the general insurance business (Bajaj General Insurance), ^{[15] [16]} and the mutual fund business (Bajaj Finserv Mutual Funds). ^{[17] [18]}

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 ^[19] 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). ^[20]

Starting in 2017, Bajaj Finserv adopted blockchain technology for services like travel insurance, allowing claim resolution before customer registration. ^[21] By 2023, they had extended blockchain's utility to enhance trader and customer connections. ^[22]

Apart from financial services, it is also active in wind energy generation with an installed capacity of 65.2 MW. ^{[5] [23] [24]} 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. ^[25]

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. ^[26]

Subsidiaries

• Bajaj Finance was initially incepted as Bajaj Auto Finance in 1987. Later diversified into business and property financing. ^{[27] [28]}
• Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv and Allianz SE. ^[29] It offers insurance products for financial planning and security. ^[30] The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 3 August 2001 to conduct life insurance business in India. ^[31] In October 2024 stock filing, Bajaj Finserv announced that Allianz is considering exiting their life and general insurance joint ventures due to its strategic priorities. ^{[32] [33]}
• Bajaj Allianz General Insurance is a private general insurance company in India. ^[34] It is another joint venture between Bajaj Finserv Limited and Allianz SE. It is headquartered in Pune with offices in over 200 cities in India and more than 3,500 employees as of 2018. ^[35]
• Bajaj Housing Finance is provides various housing finance products and services to individuals and businesses, including home loans, loan against property, and other related products. ^[36]
• Bajaj Finserv Asset Management Company is an asset management company. ^[37] In March 2023, the final registration from the Securities and Exchange Board of India was granted to commence mutual fund business operations under Bajaj Finserv Mutual Fund. ^[38] The AMC has disclosed an average of ₹16,293 crore (US$2.0 billion) in average assets under management (AAUM) for the quarter ending 30 September 2024. ^{[39] [40]} As of August 2024, the company operates 13 active mutual funds in the country ^[41] and offers a portfolio that includes equity, debt, and hybrid asset classes. It is ranked among the top 30 out of 45 mutual fund houses in India by AUM. ^[42]
• Bajaj Finserv Direct(Bajaj Markets) operates as an internet-based marketplace of financial products and services. It serves as a registered Corporate Agent under Insurance Regulatory and Development Authority, a registered Investment Adviser under Securities and Exchange Board of India, a registered third-party app provider for Unified Payments Interface payments, and a digital lending platform for its partner institutions. ^[43]
• Bajaj Finserv Health is a healthtech company. ^{[44] [45]} In early 2024, the company acquired Bangalore-based Vidal Healthcare Services and its two subsidiaries as part of its pan-India expansion of outpatient delivery services. ^{[46] [47]} As of December 2024, the company’s network includes more than 100,000 hospitals and 80,000 doctors. ^[48]

References

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12. Saraogi, Rahul (21 April 2014). Investing in India, + Website: A Value Investor's Guide to the Biggest Untapped Opportunity in the World. John Wiley & Sons. ISBN   978-1-118-75609-6. Archived from the original on 12 May 2024. Retrieved 27 May 2023.
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22. Raj, Arman; Kumar, Avneesh; Sharma, Vandana; Rani, Seema; Shanu, Ankit Kumar (May 2023). "Enhancing Security Feature in Financial Transactions using Multichain Based Blockchain Technology". 2023 4th International Conference on Intelligent Engineering and Management (ICIEM). pp. 1–6. doi:10.1109/ICIEM59379.2023.10166589. ISBN   979-8-3503-4112-6. S2CID   259339118.
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Further reading

• Saka-Helmhout, Ayse; Álamos-Concha, Priscilla; Polo-Barceló, Carlos; Edwards, Tony; Murray, Gregor (October 2024). "Corporate social innovation by multinationals: A framework for future research". International Business Review. 33 (5). doi:10.1016/j.ibusrev.2024.102273.
• "Bajaj Finserv banks on tech, last-mover advantage to make its mark in MF biz". The Hindu . 6 June 2023. Retrieved 28 August 2024.
• Borate, Neil (6 June 2023). "How Bajaj Finserv plans to sell mutual funds to its 100 million clients". Mint . Retrieved 28 August 2024.
• Katragadda, Raghuveer; Bathini, Hari Babu; Atluri, Sree Ram (4 June 2024). "Chapter 16: Application of Artificial Intelligence and Machine-Learning Algorithms for Forecasting Risk: The Case of the Indian Stock Market". In Kumar, Anil; Singh, Rubee; Khan, Shahbaz; Kumar, Vikas (eds.). Artificial Intelligence Enabled Management: An Emerging Economy Perspective. De Gruyter. p. 257. doi:10.1515/9783111172408. ISBN   978-3111171050.
• Pradeep Pulikottil, Rahul (2023). "Competitive and contagion effect of initial public offerings in India: An empirical study". Social Sciences & Humanities Open. 8 (1). Elsevier. doi: 10.1016/j.ssaho.2023.100643 . eISSN   2590-2911.
• Sareen, Puja; Sharma, Tanuja; Naqvi, Rizwan; Naqvi, Aiman (2019). "Changing HR Landscape for Meeting Business Challenges: Case Study of Bajaj Finserv Limited". The Case Centre . Cranfield University.
• Aggarwal, Vaibhav; Kaur, Sumeet (2014). "Competitive Analysis of Loan Against Securities and Customer Satisfaction Survey". DSpace . New Delhi: FORE School of Management.