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Bajaj Finserv

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Not to be confused with Bajaj Finance.
Bajaj Finserv Limited
Company typePublic
ISININE918I01026
IndustryFinancial services
FoundedMay 2007; 17 years ago (2007-05)[1]
FounderJamnalal Bajaj
Headquarters
Pune, Maharashtra, India
Key people
Sanjiv Bajaj (chairman & Managing Director)
Products
RevenueIncrease₹82,072 crore (US$9.8 billion)[3] (2023)
Increase₹16,809 crore (US$2.0 billion)[3] (2023)
Increase₹12,208 crore (US$1.5 billion)[3] (2023)
Total assetsIncrease₹405,509 crore (US$49 billion)[1] (2023)
Total equityIncrease₹46,407 crore (US$5.6 billion)[1] (2023)
Number of employees
105 (2022)[4]
ParentBajaj 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
Websitewww.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

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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

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  • 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]
  • 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.[42]
  • Bajaj Finserv Health is a healthtech company.[43][44] 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.[45][46]

References

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  1. ^ a b c d e "Bajaj Finserv Consolidated Balance Sheet, Bajaj Finserv Financial Statement & Accounts". moneycontrol.com. Retrieved 14 July 2020.
  2. ^ "Apply for Loans, EMI Finance, Credit Card and Insurance – Bajaj Finserv". bajajfinserv.in.
  3. ^ a b c "Bajaj Finserv Consolidated Profit & Loss account, Bajaj Finserv Financial Statement & Accounts". moneycontrol.com. Archived from the original on 21 May 2023. Retrieved 11 December 2020.
  4. ^ "Bajaj Finserv Company Overview". Forbes.com. Retrieved 20 March 2023.
  5. ^ a b "Bajaj Finserv Chairman's Speech > Finance - Investments > Chairman's Speech from Bajaj Finserv - BSE: 532978, NSE: BAJAJFINSV". www.moneycontrol.com. Archived from the original on 24 January 2019. Retrieved 23 January 2019.
  6. ^ "ACKO partners with Bajaj Finserv's subsidiary – Finserv MARKETS". ibsintelligence.com. Archived from the original on 26 September 2022. Retrieved 5 January 2021.
  7. ^ "Bajaj Finserv Ltd" Archived 19 March 2016 at the Wayback Machine Bloomberg. Retrieved 2014-11-03.
  8. ^ "Bajaj Finserv Ltd" Archived 24 September 2015 at the Wayback Machine India Infoline. Retrieved 2014-11-03.
  9. ^ "Bajaj Finserv Ltd." Archived 26 February 2015 at the Wayback Machine The Economic Times. Retrieved 2014-11-03.
  10. ^ "Bajaj Finserv to float a housing finance company" Archived 22 February 2015 at the Wayback Machine The Times of India. Retrieved 2014-11-03.
  11. ^ "Bajaj Auto demerger approved" Archived 17 December 2014 at the Wayback Machine The Economic Times. Retrieved 2014-11-03.
  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.
  13. ^ Chatterjee, Sinjinee (2018). "To evaluate the perception of the parent brand Bajaj vis-à-vis Bajaj Finserv". tapmi.informaticsglobal.com. Archived from the original on 31 August 2022. Retrieved 31 August 2022.
  14. ^ "Bajaj Finserv's Q1 consolidated net profit rises 14%" Archived 4 November 2014 at the Wayback Machine Business Standard. Retrieved 2014-11-03.
  15. ^ Gandhi, Kajal; Narnolia, Vishal; Sawant, Sameer (22 September 2021). "Bajaj Finserv (BAFINS): Improving prospects of key subsidiaries to add value" (PDF). ICICIDirect. Archived (PDF) from the original on 26 May 2022. Retrieved 31 May 2022.
  16. ^ Karwa, Atul (28 October 2020). "Initiating Coverage Bajaj Finserv Ltd" (PDF). HDFC securities. Archived (PDF) from the original on 17 June 2022. Retrieved 31 May 2022.
  17. ^ "Bajaj Finserv Mutual Fund launched". The Economic Times. 6 June 2023. ISSN 0013-0389. Archived from the original on 13 June 2023. Retrieved 28 June 2023.
  18. ^ "Bajaj Finserv forays into mutual funds". The Hindu. 6 June 2023. ISSN 0971-751X. Archived from the original on 13 June 2023. Retrieved 28 June 2023.
  19. ^ "Bajaj Holdings & Investment Ltd". Business Standard India. Retrieved 9 October 2022.
  20. ^ "Bajaj Holdings and Investment Ltd". bajajauto.com. Archived from the original on 16 January 2019. Retrieved 21 January 2019.
  21. ^ "Indian cos using blockchain technology to better services". The Times of India. 4 November 2017. ISSN 0971-8257. Retrieved 30 August 2023.
  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.
  23. ^ "Post division, brothers Rajiv and Sanjiv Bajaj taking Bajaj Group to new highs". The Economic Times. Archived from the original on 7 July 2014. Retrieved 3 November 2014.
  24. ^ "Bajaj Finserv Ltd windfarm (India)" The WindPower. Retrieved 2014-11-03.
  25. ^ Nahar, Pawan. "Bajaj Finserv announces stock split, bonus issue for shareholders". The Economic Times. Archived from the original on 31 August 2022. Retrieved 31 August 2022.
  26. ^ Livemint (27 December 2022). "Promoter buys stake in Bajaj Finserv for ₹100.41 cr in block deal". mint. Archived from the original on 31 December 2022. Retrieved 31 December 2022.
  27. ^ "Profitability Analysis of Lease Financing Company (A Study with Reference to Bajaj Finance Limited)". papers.ssrn.com. SSRN 3572491. Archived from the original on 14 July 2023. Retrieved 27 December 2023.
  28. ^ Meenakshi, Arun Kumar & N. (2011). Marketing Management, 2nd Edition. Vikas Publishing House. ISBN 978-81-259-4259-7. Archived from the original on 12 May 2024. Retrieved 27 May 2023.
  29. ^ Bansal, Sanjeev; Prashaant, Anu; Singhi, Rushina; Dhillon, Lakhwinder Kaur (2 June 2023). Management in Action: An HR Perspective. Taylor & Francis. ISBN 978-1-000-89915-3. Archived from the original on 12 May 2024. Retrieved 27 September 2023.
  30. ^ "Company Overview of Bajaj Allianz Life Insurance Company Limited". investing.businessweek.com. Archived from the original on 15 November 2007. Retrieved 10 February 2014.
  31. ^ "Bajaj Allianz Life Insurance company Info". smartinvestments.com. Archived from the original on 6 October 2017. Retrieved 3 January 2022.
  32. ^ Panda, Subrata; Saha, Manojit (22 October 2024). "Allianz actively considering exiting insurance JVs: Bajaj Finserv". Business Standard. Retrieved 28 October 2024.
  33. ^ "India's Bajaj Finserv says Allianz considering exiting insurance JVs". Reuters. 22 October 2024. Retrieved 28 October 2024.
  34. ^ "Bajaj Finserv justifies the rise in share price". Archived from the original on 3 January 2022. Retrieved 3 January 2022.
  35. ^ "About Bajaj Allianz General Insurance". Archived from the original on 12 October 2013. Retrieved 2 December 2015.
  36. ^ Babel, Rajeev (15 March 2021). Handbook of Non-Banking Financial Companies. Bloomsbury Publishing. ISBN 978-93-90176-20-5. Archived from the original on 12 May 2024. Retrieved 8 July 2023.
  37. ^ "Bajaj Finserv AMC files papers for launching seven NFOs". www.thehindubusinessline.com. 10 April 2023. Retrieved 27 April 2023.
  38. ^ "Bajaj Finserv gets Sebi license to start mutual fund business". Business Today. 1 March 2023. Retrieved 27 April 2023.
  39. ^ Krishna, Tanya (23 October 2024). "Bajaj Finserv Q2 Results: Profit rises by 8.2% to Rs 2,086.97 crore, revenue up 29.5% YoY". Financialexpress. Retrieved 28 October 2024.
  40. ^ "Bajaj Finserv Q2 Profit up 8 Per cent at Rs 2,087 Cror". Outlook Business. 24 October 2024. Retrieved 28 October 2024.
  41. ^ "Bajaj Finserv Mutual Fund, Key Information". Moneycontrol. 30 June 2024. Retrieved 28 August 2024.
  42. ^ "Loans on Bajaj Markets: Address diverse needs with 9 products". Asian News International. Archived from the original on 12 May 2023. Retrieved 28 June 2023.
  43. ^ "Bajaj Finserv enters healthtech solutions business". The Indian Express. 22 September 2020. Archived from the original on 27 April 2023. Retrieved 27 April 2023.
  44. ^ Gopakumar, Gopika (23 September 2020). "Bajaj Finserv forays into healthtech". mint. Archived from the original on 27 April 2023. Retrieved 27 April 2023.
  45. ^ Kayastha, Anshika (30 January 2024). "Bajaj Finserv's healthtech arm to acquire Vidal Healthcare for ₹325 crore". BusinessLine. Retrieved 28 October 2024.
  46. ^ Anand, Nisha (30 January 2024). "Bajaj Finserv arm acquires 100% stake in Vidal Healthcare Services". Business Standard. Retrieved 28 October 2024.

Further reading

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