Bajaj Finserv Limited
TypePublic
ISININE918I01026
IndustryFinancial services
FoundedMay 2007 (2007-05)[1]
FounderJamnalal Bajaj
Headquarters
Pune, Maharashtra, India
Key people
Sanjiv Bajaj
(Chairman & Managing Director)
ProductsInsurance, credit cards, mutual fund, mortgage loans, investment management[2]
RevenueIncrease₹82,072 crore (US$10 billion)[3] (2023)
Increase₹16,809 crore (US$2.1 billion)[3] (2023)
Increase₹12,208 crore (US$1.5 billion)[3] (2023)
Total assetsIncrease₹405,509 crore (US$51 billion)[1] (2023)
Total equityIncrease₹46,407 crore (US$5.8 billion)[1] (2023)
Number of employees
105 (2022)[4]
ParentBajaj Group[1]
SubsidiariesBajaj 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

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),[15] the general insurance business (Bajaj General Insurance)[16][17] and, the mutual fund business (Bajaj Finserv Mutual Funds).[18][19]

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[20] 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).[21]

Starting in 2017, Bajaj Finserv adopted blockchain technology for services like travel insurance, allowing claim resolution before customer registration.[22] By 2023, they've extended blockchain's utility to enhance trader and customer connections.[23]

Apart from financial services, it is also active in wind energy generation with an installed capacity of 65.2 MW.[5][24][25] 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.[26]

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.[27]

Subsidiaries

  • Bajaj Finance was initially incepted as Bajaj Auto Finance in 1987. Later diversified into business and property financing.[28][29]
  • Bajaj Allianz Life Insurance is a joint venture between Bajaj Finserv and Allianz SE.[30] Being one of the private insurance companies in India, it offers insurance products for financial planning and security.[31] The company received the Insurance Regulatory and Development Authority (IRDA) certificate of Registration on 3 August 2001 to conduct Life insurance business in India.[32]
  • Bajaj Allianz General Insurance is a private general insurance company in India.[33] 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.[34]
  • Bajaj Housing Finance is provides various housing finance products and services to individuals and businesses. They offer home loans, loan against property, and other related financial solutions.[35]
  • Bajaj Finserv Asset Management Company is an asset management company.[36] 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.[37]
  • Bajaj Finserv Direct (Bajaj Markets) operates as an internet-based marketplace, providing a range of financial products and services through its digital platform. 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.[38]
  • Bajaj Finserv Health is a healthtech solution company.[39][40]

Philanthropy

References

  1. 1 2 3 4 5 "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. 1 2 3 "Bajaj Finserv Consolidated Profit & Loss account, Bajaj Finserv Financial Statement & Accounts". moneycontrol.com.
  4. ↑ "Bajaj Finserv Company Overview". Forbes.com. Retrieved 20 March 2023.
  5. 1 2 "Bajaj Finserv Chairman's Speech > Finance - Investments > Chairman's Speech from Bajaj Finserv - BSE: 532978, NSE: BAJAJFINSV". www.moneycontrol.com.
  6. ↑ "ACKO partners with Bajaj Finserv's subsidiary – Finserv MARKETS". ibsintelligence.com.
  7. ↑ "Bajaj Finserv Ltd" Bloomberg. Retrieved 2014-11-03.
  8. ↑ "Bajaj Finserv Ltd" India Infoline. Retrieved 2014-11-03.
  9. ↑ "Bajaj Finserv Ltd." The Economic Times. Retrieved 2014-11-03.
  10. ↑ "Bajaj Finserv to float a housing finance company" The Times of India. Retrieved 2014-11-03.
  11. ↑ "Bajaj Auto demerger approved" 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.
  13. ↑ Chatterjee, Sinjinee (2018). "To evaluate the perception of the parent brand Bajaj vis-à-vis Bajaj Finserv". tapmi.informaticsglobal.com. Retrieved 31 August 2022.
  14. ↑ "Bajaj Finserv's Q1 consolidated net profit rises 14%" Business Standard. Retrieved 2014-11-03.
  15. ↑ "Bajaj Allianz General Insurance: History, Products and Services, Benefits". surecuet.com. Retrieved 22 March 2023.
  16. ↑ 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.
  17. ↑ Karwa, Atul (28 October 2020). "Initiating Coverage Bajaj Finserv Ltd" (PDF). HDFC securities. Retrieved 31 May 2022.
  18. ↑ "Bajaj Finserv Mutual Fund launched". The Economic Times. 6 June 2023. ISSN 0013-0389. Retrieved 28 June 2023.
  19. ↑ "Bajaj Finserv forays into mutual funds". The Hindu. 6 June 2023. ISSN 0971-751X. Retrieved 28 June 2023.
  20. ↑ "Bajaj Holdings & Investment Ltd". Business Standard India. Retrieved 9 October 2022.
  21. ↑ "Bajaj Holdings and Investment Ltd". bajajauto.com. Retrieved 21 January 2019.
  22. ↑ "Indian cos using blockchain technology to better services". The Times of India. 4 November 2017. ISSN 0971-8257. Retrieved 30 August 2023.
  23. ↑ 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.
  24. ↑ "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.
  25. ↑ "Bajaj Finserv Ltd windfarm (India)" The WindPower. Retrieved 2014-11-03.
  26. ↑ Nahar, Pawan. "Bajaj Finserv announces stock split, bonus issue for shareholders". The Economic Times. Retrieved 31 August 2022.
  27. ↑ Livemint (27 December 2022). "Promoter buys stake in Bajaj Finserv for ₹100.41 cr in block deal". mint. Retrieved 31 December 2022.
  28. ↑ "Profitability Analysis of Lease Financing Company (A Study with Reference to Bajaj Finance Limited)". papers.ssrn.com.
  29. ↑ Meenakshi, Arun Kumar & N. (2011). Marketing Management, 2nd Edition. Vikas Publishing House. ISBN 978-81-259-4259-7.
  30. ↑ 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.
  31. ↑ "Company Overview of Bajaj Allianz Life Insurance Company Limited". investing.businessweek.com. Archived from the original on 15 November 2007. Retrieved 10 February 2014.
  32. ↑ "Bajaj Allianz Life Insurance company Info". smartinvestments.com. Archived from the original on 6 October 2017. Retrieved 3 January 2022.
  33. ↑ Bajaj Finserv justifies the rise in share price
  34. ↑ "About Bajaj Allianz General Insurance". Retrieved 2 December 2015.
  35. ↑ Babel, Rajeev (15 March 2021). Handbook of Non-Banking Financial Companies. Bloomsbury Publishing. ISBN 978-93-90176-20-5.
  36. ↑ Bureau, BL Mumbai (10 April 2023). "Bajaj Finserv AMC files papers for launching seven NFOs". www.thehindubusinessline.com. Retrieved 27 April 2023.
  37. ↑ "Bajaj Finserv gets Sebi license to start mutual fund business". Business Today. 1 March 2023. Retrieved 27 April 2023.
  38. ↑ "Loans on Bajaj Markets: Address diverse needs with 9 products". Asian News International. Retrieved 28 June 2023.
  39. ↑ "Bajaj Finserv enters healthtech solutions business". The Indian Express. 22 September 2020. Retrieved 27 April 2023.
  40. ↑ Gopakumar, Gopika (23 September 2020). "Bajaj Finserv forays into healthtech". mint. Retrieved 27 April 2023.
  41. ↑ Solanki, Damini (24 January 2023). "NCPEDP, Bajaj Finserv to Provide Scholarship to 100 Students With Disabilities". News18. Retrieved 4 August 2023.
  42. ↑ "Bajaj Finserv and Ruby Hall jointly inaugurate cutting-edge tech for radiotherapy". The Indian Express. 1 August 2023. Retrieved 4 August 2023.
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