Bajaj Finserv Ltd., together with its several subsidiaries, has been offering financial services to salaried, SME and professional customers in India since a decade. The company was established in the year of 2007, headquartered at Pune, India. The company has several operating segments such as Insurance, Windmill, Retail Financing, Investments etc. The company is offering loans for several divisions such as personal, business, home, car, two-wheelers along with providing loans against fixed deposit, shares, property, car etc.
Insurance products such as health insurance, life insurance, child plan, car protection plan, investment plan, savings plan etc., investment products such as fixed deposits and mutual funds and value-added services such as extended warranty, asset care, and financial fitness report services etc. are also provided by the company. Bajaj Finserv Ltd. has installed 138 windmills, having a capacity of approximately 65.2 Megawatt in Maharashtra.
About Company Information :
Bajaj Finserv Limited (BFS) is providing a wide range of several financial services businesses under the Bajaj group. The company has 55.13% stake in Bajaj Finance Limited (BFL) and 74% stake both in Bajaj Allianz Life Insurance Company Limited (BALIC) and Bajaj Allianz General Insurance Company Limited (BAGIC).
The company was established in April 2007, being demerged from Bajaj Auto Limited as a separate entity, to focus on the financial services business of the group solely. In February 2008, the demerger process was finished. The wind power project, along with the stakes in the entire finance-related companies along with their respective assets and liabilities, were transferred in the hands of Bajaj Finserv Limited. Besides that, cash and cash equivalent, amounting around Rs.800 crore (then market value) was also transferred to the company.
On April 2009, an agreement took place between Bajaj Finserv and Allianz Global Investors AG (AllianzGI), a finance business subsidiary of Allianz SE, to set up an asset management joint venture company in India, with a stakeholding of 51% by AllianzGI and 49% by Bajaj Finserv.
In November 2009, the company declared that a Certificate of Registration dated 30 October 2009 under section 45-IA of the RBI Act, 1934 had been issued by the Reserve Bank of India, permitting the company to continue the business as a Non-Banking Financial Institution (NBFC) (non-deposit taking).
On March 2011, Bajaj Finserv clarified to the stock exchanges that, it had no intention to sell its equity to Berkshire Hathaway group of companies at that period or in the foreseeable future.
On October 2012, 1.44 crore equity shares were allotted to existing eligible shareholders by Bajaj Finserv. On June 2013, the company announced that an application from the company had been submitted to the Reserve Bank of India, appealing the bank to issue a license to allow the company for carrying its banking business in terms of section 22 of the Banking Companies Act, 1949.
On November 2014, selling 100% shares of Bajaj Financial Solutions Ltd. (along with its solely owned subsidiary Bajaj Financial Securities Ltd.) against Rs.17 crore, on an arm’s length basis, to its subsidiary Bajaj Finance Ltd., Bajaj Finserv promoted the housing finance business of Bajaj Finance Ltd.
The company on November 2015, announced that the Reserve bank of India had approved to convert Bajaj Finserv into a Core Investment Company, without the requirement of any registration with RBI, resulting in the cancellation of the Certificate of Registration as NBFC, issued to the company earlier. On the next year, November 2016, Bajak Finserv pursued to convert Bajaj Finance Limited’s 92.5 lakh warrants into equity shares on the payment of balance 75% amount summing up to Rs.306.28 crore. This has been manifested as the rise of shareholding of Bajaj Finserv Ltd. in Bajaj Finance Ltd. up to 58% from the previous holding of 57.28%. The net sakes have been raised to Rs.423 crores in March 2019 from Rs.242 crore in March 2016, surpassing Rs.154 crore and Rs.242 crore in March 2017 and March 2018 respectively.
How Bajaj Finserv Ltd, is categorised as a Finance Sector, and Finance and Investment Industry :
Financial and Investments industry comprises the companies that derive its business by providing economical services which encompass a broad range of managing money, credit-card companies, including credit unions, banks, accountancy companies, consumer-finance companies, insurance companies, stock brokerages, individual managers, investment funds, and some government-sponsored enterprises. It also engages in advisory based financial transactions on account of individuals, organisations, and governments.
Bajaj Finserv Ltd is categorised as a Finance Sector, and Finance and Investment Industry. The finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
Bajaj Finserv Ltd, Competitors and Sector Peers:
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Aditya Birla Money Ltd. APOSIN
Apollo Finvest (India) Ltd. APOLFI
Bajaj Holdings & Investment Ltd. BAJAJA
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ICICI Securities Ltd. ICIBRO
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Jackson Investments Ltd. JACINV
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Jayant Mercantile Co. Ltd. JAYMER
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Jindal Capital Ltd. JINCAP
Jindal Leasefin Ltd. JINLEA
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JJ Finance Corporation Ltd. JJFINC
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