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Bajaj Finserv

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Bajaj Finserv Limited
Company typePublic
ISININE918I01018
IndustryFinancial services
FoundedMay 2007 (17 years ago) (2007-05)[1]
FounderJamnalal Bajaj
Headquarters
Pune, Maharashtra, India
Key people
Sanjiv Bajaj
(Chairman, MD & CEO)
ProductsInsurance, credit cards, mutual fund, mortgage loans, investment management[2]
RevenueIncrease₹68,438 crore (US$8.2 billion)[3] (2022)
Increase₹11,270 crore (US$1.4 billion)[3] (2022)
Increase₹8,313 crore (US$1.0 billion)[3] (2022)
Total assetsIncrease₹333,718 crore (US$40 billion)[1] (2022)
Total equityIncrease₹40,246 crore (US$4.8 billion)[1] (2022)
Number of employees
26,969 (2020)[1]
ParentBajaj Group[1]
SubsidiariesBajaj Finance[4]
Bajaj Allianz General Insurance
Bajaj Allianz Life Insurance
Bajaj Housing Finance[1]
Bajaj Finserv Markets [5]
Websitewww.bajajfinserv.in

Bajaj Finserv Limited is an Indian non-banking financial services company[6][7] headquartered in Pune. It is focused on lending, asset management, wealth management and insurance.[8][9]

History

The financial services and wind energy businesses were transferred to Bajaj Finserv Limited (BFS) 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.[10] It is a financial conglomerate with stakes in the financing sector (Bajaj Finance),[11] the life insurance business (Bajaj Life Insurance), and the general insurance business (Bajaj General Insurance).[12][13]

Bajaj Holdings and Investments Limited is the parent company which holds 39.29% stake in Bajaj Finserv.[14] The former 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).[15]

The company employs over 20,154 employees at 1,409 locations, and is engaged in consumer finance businesses, life insurance, and general insurance.[16] Apart from financial services, it is also active in wind energy generation with an installed capacity of 65.2 MW.[4][17][18] 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.[19]

Subsidiaries

  • Bajaj Finance was initially incepted as Bajaj Auto Finance in 1987. Later diversified into business and property financing.[20]
  • Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv and Allianz SE. Being one of the private insurance companies in India, it offers insurance products for financial planning and security.[21] The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 3 August 2001 to conduct Life insurance business in India.[22]
  • Bajaj Allianz General Insurance is a private general insurance company in India.[23] 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.[24]

References

  1. ^ a b c d e f "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.
  4. ^ a b "Bajaj Finserv Chairman's Speech > Finance - Investments > Chairman's Speech from Bajaj Finserv - BSE: 532978, NSE: BAJAJFINSV". www.moneycontrol.com.
  5. ^ "ACKO partners with Bajaj Finserv's subsidiary – Finserv MARKETS". ibsintelligence.com.
  6. ^ "Bajaj Finserv Ltd" Bloomberg. Retrieved 2014-11-03.
  7. ^ "Bajaj Finserv Ltd" India Infoline. Retrieved 2014-11-03.
  8. ^ "Bajaj Finserv Ltd." The Economic Times. Retrieved 2014-11-03.
  9. ^ "Bajaj Finserv to float a housing finance company" The Times of India. Retrieved 2014-11-03.
  10. ^ "Bajaj Auto demerger approved" The Economic Times. Retrieved 2014-11-03.
  11. ^ Chatterjee, Sinjinee (2018). "To evaluate the perception of the parent brand Bajaj vis-à-vis Bajaj Finserv". tapmi.informaticsglobal.com. Retrieved 31 August 2022.
  12. ^ 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.{{cite web}}: CS1 maint: url-status (link)
  13. ^ Karwa, Atul (28 October 2020). "Initiating Coverage Bajaj Finserv Ltd" (PDF). HDFC securities. Retrieved 31 May 2022.{{cite web}}: CS1 maint: url-status (link)
  14. ^ "Bajaj Holdings & Investment Ltd". Business Standard India. Retrieved 9 October 2022.
  15. ^ "Bajaj Holdings and Investment Ltd". bajajauto.com. Retrieved 21 January 2019.
  16. ^ "Bajaj Finserv's Q1 consolidated net profit rises 14%" Business Standard. Retrieved 2014-11-03.
  17. ^ "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.
  18. ^ "Bajaj Finserv Ltd windfarm (India)" The WindPower. Retrieved 2014-11-03.
  19. ^ Nahar, Pawan. "Bajaj Finserv announces stock split, bonus issue for shareholders". The Economic Times. Retrieved 31 August 2022.
  20. ^ R, Sathishkumar; G, Balamurugan (30 November 2019). "Profitability Analysis of Lease Financing Company (A Study with Reference to Bajaj Finance Limited)". Rochester, NY. SSRN 3572491. {{cite journal}}: Cite journal requires |journal= (help)
  21. ^ "Company Overview of Bajaj Allianz Life Insurance Company Limited". investing.businessweek.com. Retrieved 10 February 2014.
  22. ^ "Bajaj Allianz Life Insurance company Info". smartinvestments.com.
  23. ^ Bajaj Finserv justifies the rise in share price
  24. ^ "About Bajaj Allianz General Insurance". Retrieved 2 December 2015.
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