Bajaj Holdings Acquires Allianz SE Stake in Insurance Subsidiaries
Filing Summary
Bajaj Holdings & Investment Ltd has completed the acquisition of a 17.56% equity stake in Bajaj General Insurance Limited and Bajaj Life Insurance Limited from Allianz SE. The transaction involved the purchase of 1,93,56,005 shares in Bajaj General at INR 4,808 per share and 2,64,64,600 shares in Bajaj Life at INR 2,654 per share. Bajaj Finserv Ltd and Jamnalal Sons Pvt. Ltd also acquired stakes, bringing the total to 97% ownership in both companies. The remaining 3% stake is subject to a proposed buyback, expected to conclude by July 31, 2026.
Bajaj Holdings & Investment Ltd has announced the acquisition of a 17.56% equity stake in both Bajaj General Insurance Limited and Bajaj Life Insurance Limited from Allianz SE. This acquisition follows the company’s earlier communication dated March 17, 2025, regarding its intention to purchase up to 19.95% equity stake in these insurance subsidiaries of Bajaj Finserv Limited.
The financial terms of the acquisition include the purchase of 1,93,56,005 equity shares of INR 10 each in Bajaj General at a price of INR 4,808 per share. Similarly, Bajaj Holdings acquired 2,64,64,600 equity shares of INR 10 each in Bajaj Life at a price of INR 2,654 per share. Bajaj Finserv Ltd, an associate company, acquired 11,13,295 shares in Bajaj General and 15,22,161 shares in Bajaj Life, each at the same respective prices, representing a 1.01% equity stake in each company. Additionally, Jamnalal Sons Pvt. Ltd, a promoter group company, acquired 48,83,068 shares in Bajaj General and 66,76,409 shares in Bajaj Life, representing a 4.43% equity stake in each company.
With these acquisitions, Bajaj Holdings, along with Bajaj Finserv and Jamnalal Sons, now collectively hold a 97% equity stake in both Bajaj General and Bajaj Life. The remaining 3% equity stake held by Allianz SE is subject to a proposed buyback by the boards of Bajaj General and Bajaj Life. The buyback, pending necessary approvals, will be offered at the same price per share as the recent acquisition. If the buyback is not fully executed, Bajaj Holdings and the promoter group have the option to acquire the remaining stake under the terms of the agreement.
The timeline for the completion of the acquisition of the remaining 3% equity stake, whether through buyback or other means, is set for July 31, 2026. This transaction is part of Bajaj Holdings’ strategic move to consolidate its ownership in its insurance subsidiaries, enhancing its control and influence over these entities.
Bajaj Holdings & Investment Ltd is a non-banking financial company focusing on investments in group companies and other strategic investments. The company aims to enhance shareholder value through strategic acquisitions and effective management of its investment portfolio.