|Sanjiv Bajaj, Rajeev Jain|
|Products||Lending, Fixed Deposits, Mutual Funds|
|Parent||Bajaj Finserv Ltd|
|Subsidiaries||Bajaj Financial Services Ltd., Bajaj Housing Finance Ltd|
Bajaj Finance Limited, a subsidiary of Bajaj Finserv, is an Indian Non-Banking Financial Company (NBFC). The company deals in Consumer Finance, SME (Small and Medium-sized Enterprises) and Commercial Lending, and Wealth Management.
Headquartered in Pune, Maharashtra, the company has 294 consumer branches and 497 rural locations with over 33,000+ distribution points. The company reported a pre-tax profit of Rs.626 crores and a post-tax profit of Rs.408 crores at a ROA of 0.8% and ROE of 5.1% in Q2 FY17.
Originally incorporated as Bajaj Auto Finance Limited on March 25, 1987, the non-bank singularly focused on providing two and three wheeler finance. After 11 years in the auto finance market, Bajaj Auto Finance Ltd launched its initial public issue of equity share and was listed on the BSE and NSE.
At the turn of the 20th century, the company ventured into the durables finance sector. In the subsequent years, Bajaj Auto Finance diversified into business and property loans as well.
In the year 2006, the company’s assets under management hit the Rs.1,000 crore mark and is currently at Rs.52,332 crore. 2010 saw the company’s registered name change from Bajaj Auto Finance Limited to Bajaj Finance Limited,.
The parent company, Bajaj Finserv Limited, holds 57.28% of the total shares and has a controlling stake in the subsidiary. Other major investors include Maharashtra Scooters Limited, Government of Singapore, Smallcap World Fund INC and AXIS Long Term Equity Fund.