Bajaj Finserv
Indian financial services company From Wikipedia, the free encyclopedia
Indian financial services company From Wikipedia, the free encyclopedia
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]
Company type | Public |
---|---|
ISIN | INE918I01026 |
Industry | Financial services |
Founded | May 2007[1] |
Founder | Jamnalal Bajaj |
Headquarters | Pune, Maharashtra, India |
Key people | Sanjiv Bajaj (Chairman & Managing Director) |
Products | |
Revenue | ₹82,072 crore (US$9.8 billion)[3] (2023) |
₹16,809 crore (US$2.0 billion)[3] (2023) | |
₹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 |
Website | www |
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]
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