Bajaj Finserv

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$9.5 billion)[3] (2023)
Increase₹16,809 crore (US$1.9 billion)[3] (2023)
Increase₹12,208 crore (US$1.4 billion)[3] (2023)
Total assetsIncrease₹405,509 crore (US$47 billion)[1] (2023)
Total equityIncrease₹46,407 crore (US$5.4 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

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

  • 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, established in 2001.[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$1.9 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] and offers a portfolio that includes equity, debt, and hybrid asset classes. It is ranked among the top 30 out of 45 mutual fund houses in India by AUM.[42]
  • 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.[43]
  • Bajaj Finserv Health is a healthtech company.[44][45] 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.[46][47] As of December 2024, the company’s network includes more than 100,000 hospitals and 80,000 doctors.[48]

References

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  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.
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  9. ^ "Bajaj Finserv Ltd." Archived 26 February 2015 at the Wayback Machine The Economic Times. Retrieved 2014-11-03.
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  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.
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  31. ^ "Bajaj Allianz Life Insurance company Info". smartinvestments.com. Archived from the original on 6 October 2017. Retrieved 3 January 2022.
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  35. ^ Ashokbhai Kalola, Aneri (30 March 2024). "A COMPARATIVE STUDY OF FINANCIAL PERORMANCE EVALUTION OF SELECTED NON- LIFE INSURANCE COMPANIES OF INDIA" (PDF). Atmiya University. p. 38. Retrieved 12 January 2025 – via DSpace.
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  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. ^ Singh, Raveena (20 December 2024). "How Bajaj Finserv carpet-bombed its way to $2.2B in mutual funds". The Ken. Retrieved 25 December 2024.
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  48. ^ Varier, Aathira (2 December 2024). "Bajaj Finserv Health aims to break even by FY27, says CEO Devang Mody". Business Standard. Retrieved 25 December 2024.

Further reading