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Bajaj Finserv

Overview

Bajaj Finserv Limited is an Indian financial services company headquartered in Pune, Maharashtra. It is the holding company for the financial services businesses of the Bajaj Group, with interests spanning lending, asset management, insurance, and wealth management. The company was formed in 2007 as part of the demerger of Bajaj Auto Limited.

Key facts

Name Bajaj Finserv Limited
Type Public company
Industry Financial services
Headquarters Pune, Maharashtra, India
Parent group Bajaj Group
Founded 2007 (through demerger of Bajaj Auto)

Background

Bajaj Finserv came into existence as a result of the restructuring of Bajaj Auto Limited, the flagship company of the Bajaj Group founded by Jamnalal Bajaj. Under the demerger scheme approved in 2007, the erstwhile Bajaj Auto Limited was split into three entities: a new Bajaj Auto Limited for the automobile business, Bajaj Finserv for the financial services business, and Bajaj Holdings & Investment Limited as the residual holding and investment company.

Business structure

Bajaj Finserv operates primarily through its subsidiaries and joint ventures. Its principal businesses include:

  • Bajaj Finance Limited – a non-banking financial company (NBFC) engaged in consumer finance, SME lending, commercial lending, and deposits.
  • Bajaj Allianz General Insurance Company – a general insurance joint venture with Allianz SE of Germany.
  • Bajaj Allianz Life Insurance Company – a life insurance joint venture with Allianz SE.
  • Bajaj Housing Finance Limited – a subsidiary providing housing finance, registered with the National Housing Bank.
  • Bajaj Finserv Asset Management – the group's mutual fund and asset management arm.

Listing and ownership

Bajaj Finserv is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). It is part of major Indian benchmark indices including the Nifty 50. The Bajaj family, through Bajaj Holdings & Investment and other group entities, holds a significant promoter stake.

Leadership

The company has been chaired by Sanjiv Bajaj, a member of the Bajaj family and grandson of Jamnalal Bajaj. He has served as Chairman and Managing Director, guiding the financial services arm of the group since the demerger.

Significance

Bajaj Finserv is among the largest diversified financial services groups in India by market capitalisation. Its NBFC subsidiary, Bajaj Finance, is one of the country's largest non-bank lenders by assets under management and has played a notable role in the growth of consumer durable financing and digital lending in India. The Allianz joint ventures are also among the prominent private-sector insurers in the Indian market.

References