Bajaj Finance Limited operates is amongst the leading non-banking financial companies of India, offering several sorts of loans such as consumer durable loans, lifestyle finance, digital product finance, personal loans, business loans, home loans, construction equipment loans, loans against fixed deposit, property and gold, vehicle loans, loans for doctors and chartered accountants and credit cards, insurance, different value-added services along with investing in fixed deposits and mutual funds.
Reserve Bank of India has defined the company as an Asset Finance Company. Being a subsidiary of Bajaj Finserv Limited, Bajaj Finance Limited was formerly known as Bajaj Auto Finance Limited, established in 1987 at Pune, as a private limited company. Primarily, Bajaj Auto Ltd and Bajaj Auto Holdings Ltd. although were the promoters of the company, later the shareholding of Bajaj Auto Ltd in the company was vested with Bajaj Finserv Ltd. The renaming took place on September 2010, after more than two decades from its incorporation.
Soon after its establishment, Bajaj Finance Limited was registered as a deemed public company u/s 43A (1) of the Companies Act 1956, in October 1987. Just a year later the company was registered as a public limited firm, in September 1988. In the financial year of 1994-95, Bajaj Finance Limited was enlisted in BSE and NSE. Reserve Bank of India registered the firm as a Non-Bank Company in March 1998.
To offer plenty of financial schemes, several branches were opened by the company in various places throughout the country. During 1991-95 branches were opened at New Delhi, Kolkata, Mumbai, Goa, Nagpur, Nasik, Hyderabad, Chennai, Bangalore, Vijayawada, Vishakhapatnam, Madurai and Pune. Later during 1995-95, their debut real estate project was launched by the company, namely Nayan Co-operative Housing Society Ltd at Pune. Along with that, Bajaj Finance Limited opened its branch at Baroda and Trivandrum.
Expansion of the firm took a stiff enhancement when the company established its branches at Chandigarh, Cochin, Indore, Ludhiana, Surat, Kolhapur, Bhopal, Bhubaneshwar, Calicut, Erode, Jargon, Jalandhar, Kanpur, Lucknow, Raipur, Rajkot, Salem, Solapur, Udaipur, Tirupati, Amravati, Amritsar, Bhavnagar, Durgapur, Jamshedpur, Jodhpur, Kopergaon, Mehsana, Mysore, Siliguri and Vellore.
The company started financing of Personal Computers, post-millennium. As a consequence, new branches were opened at a wide range in the country. By 2004-05 the company opened its branches at Hissar, Hubli, Patiala, Rourkela, Agra, Ahmednagar, Ajmer, Akola, Alwar, Ambala, Anand, Bharuch, Bhilai, Chandrapur, Dindigul, Eluru, Guna, Gurgaon, Himatnagar, Jagadhri, Jamnagar, Karaikudi, Karimnagar, Karur, Kottayam, Kurnool, Navsari, Nellore, Palghat, Rajahmundry, Sangli, Tanjore, Tirunelveli and Ujjain.
In 2005-06, the company launched a new marketing and business strategy by opening Loan Shoppes to accelerate direct marketing along with developing brand awareness. Twenty-two shops and 14 new branch offices were launched by the company at that period. Opening 11 new branches, the company increased the total number of its branches up to 113 in 2006-07, along with covering 280 towns all over the nation. In 2007-08 the company launched new product lines/extensions.
IPO financing for high networking clients, obtaining of AAA evaluated security exchanges, personal loan cross-sell program for existing customers and funding for PCs to SMEs were introduced by the company. In 2013, the company had gone for Rights issue in the Ratio of 3:19. Cent per cent shares of Bajaj Financial Solutions was acquired by Bajaj Finance Limited against Rs.17 crore, from its holding company Bajaj Finserv to promote the business of housing finance, on November 2014. The National Housing Bank registered Bajaj Housing Finance Limited, a solely owned subsidiary of Bajaj Finance to start housing finance business.
An agreement took place between the company and with One Mobikwik Systems Private Limited (Mobikwik), a leading mobile wallet firm resulting as an investment of Rs.225 crore by Bajaj Finance Limited in the equity shares and cumulative compulsorily convertible preference shares (CCPS) of Mobikwik in August 2017. On October 2017, LG Bajaj Finserv EMI card was introduced by Bajaj Finance and LG Electronics jointly.
How Bajaj Finance 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 Finance 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 Finance Ltd, Competitors and Sector Peers:
Aditya Birla Capital Ltd. ADIT18
Aditya Birla Money Ltd. APOSIN
Apollo Finvest (India) Ltd. APOLFI
Bajaj Finserv Ltd. BAJAFI
Bajaj Holdings & Investment Ltd. BAJAJA
Birla Capital And Financial Services Ltd. BIRCAP
Dalal Street Investments Ltd. DALSTR
HDFC Asset Management Company Ltd. HDFASS
ICICI Securities Ltd. ICIBRO
India Lease Development Ltd. INDLEA
India Securities Ltd. INDSEC
Indiabulls Financial Services Ltd.[Amalgamated] INDIAF
Indiabulls Ventures Ltd. INDISE
Ishwarshakti Holdings & Traders Ltd. ISHHOL
ISL Consulting Ltd. INNSEC
Jackson Investments Ltd. JACINV
Jagsonpal Finance & Leasing Ltd. JAGFIN
Jayabharat Credit Ltd. JAYCRE
Jayant Mercantile Co. Ltd. JAYMER
Jaykay Enterprises Ltd. JKSYNL
Jenson & Nicholson Financial Services Ltd. JENSO
Jhaveri Credits & Capital Ltd. JHACRE
Jindal Capital Ltd. JINCAP
Jindal Leasefin Ltd. JINLEA
Jindal Poly Investment & Finance Company Ltd. JINDA5
JJ Finance Corporation Ltd. JJFINC
JK Investo Trade (India) Ltd. JKINVT
Kelvin Fincap Ltd. DAHSON
Ken Financial Services Ltd. KENFIN
Lakshmi Finance & Industrial Corporation Ltd. LAKFIN
Mahindra & Mahindra Financial Services Ltd. MAHI
Manappuram Finance Ltd. MANGEN
Motilal Oswal Financial Services Ltd. MOTOSW
Muthoot Capital Services Ltd. MUTCAP
Muthoot Finance Ltd. MUTFIN
NCL Research & Financial Services Ltd. NCLRES
NDA Securities Ltd. NDASEC
Panafic Industrials Ltd. PANAIN
Pankaj Piyush Trade & Investment Ltd. PANPIY
Prism Finance Ltd. PRISFI
Prithvi Exchange (India) Ltd. PRITSO
Reliance Capital Ltd. RELICA
Reliance Nippon Life Asset Management Ltd. RELCAP
Relic Technologies Ltd. RELICT
Religare Enterprises Ltd. RELIGE
Sheetal Bio-Agro Tech Ltd. SHEBIO
Shell Mercantile Corporation Ltd. SHEMER
Sheraton Properties & Finance Ltd. SHERPR
Shreenath Investments Company Ltd. SHRINC
Shreevatsaa Finance & Leasing Ltd. SHRFIN
Shri Kalyan Holdings Ltd. SHRKAL
Shri Niwas Leasing and Finance Ltd. SHRNIW
Stellar Capital Services Ltd. STELCA
Step Two Corporation Ltd. STETWO
Tata Investment Corporation Ltd. TATINV
Titan Securities Ltd. TITSEC
TRC Financial Services Ltd. TRCFIN
Tridev Infraestates Ltd. ASHUPA
Trijal Industries Ltd. TRIJIN
Trinity League India Ltd. DRHOM
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