Bajaj Finserv, the financial services arm of the Bajaj Group, has picked up a further 4.37% stake in its group firm Bajaj Auto Finance for Rs111.33 crore through open market transactions.
As per the bulk deal data available with the National Stock Exchange, Bajaj Finserv yesterday bought 16,01,900 shares, representing 4.37% stake of Bajaj Auto Finance at a price of Rs695 per piece.
After the latest deal, Bajaj Finserv now holds 54.79% stake in Bajaj Auto Finance. Bajaj Finserv is engaged in life and general insurance and consumer finance businesses.
Bajaj Auto Finance has recently got shareholder approval for change in name of the company from Bajaj Auto Finance Ltd to Bajaj Finance Ltd.
Bajaj Auto Finance, a non-banking financial company, offers various consumer finance products like auto loans, personal loans, loans for consumer durables and computers and SME finance.
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