Bajaj Auto Finance becomes Bajaj Finance Ltd
Vehicle finance company Bajaj Auto Finance Ltd today rechristened itself as Bajaj Finance Ltd.
The change in name to Bajaj Finance with effect from September 6 reflects its current activities, the Bajaj Group company said in a statement. Over the years, it has added more lending products to its portfolio and is now a diversified consumer and small business lending company, it said.
The company currently offers six lending products, including loans for two-wheelers and three-wheelers, consumer durables, small business loans, construction equipment finance, mortgages and loan against securities, it said.
Bajaj Auto Finance recently got shareholders' approval for changing the name of the company to Bajaj Finance Ltd. Meanwhile, Bajaj Finserv, the holding company of Bajaj Auto Finance, has picked up a further 4.37 per cent stake in the auto finance company for Rs 111.33 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 of Bajaj Auto Finance, representing a 4.37 per cent stake, at a price of Rs 695 per piece.
After the latest deal, Bajaj Finserv now holds a 54.79 per cent stake in Bajaj Auto Finance. Bajaj Finserv is engaged in the life and general insurance and consumer finance businesses.
