Bajaj Auto, the country’s second-largest motorcyle maker, announced on Thursday it will list two newly formed companies, Bajaj Holding and Investment (BHIL) and Bajaj Finserve (BFL), in April after it obtained approval from the court for the demerger this week.

Accordingly, Bajaj Auto (BAL) will be renamed BHIL under the demerger scheme, where every shareholder in BAL would be entitled to get one equity share each in the new companies, said a Bajaj press release. Mr Sanjiv Bajaj will be the managing director of Bajaj Finserve (BFL) while Mr Rahul Bajaj will be the non-executive chairman.

As part of the restructuring, the new holding company BHIL which holds 30 per cent of equity in both Bajaj Auto and the spun-off Bajaj Finserv Ltd, will also be listed at the same time. The spin-off took effect on Wednesday after the demerger plan, which was announced in May last year, while it was approved by a Mumbai court this week.

Bajaj Finserv includes the Bajaj group’s insurance ventures and finance business Bajaj Auto Finance, as well as wind energy generation.

It will receive up to Rs 800 crore (roughly $200 million) in cash and equivalents from Bajaj Auto. BHIL has Bajaj’s existing manufacturing and gets Rs 1500 crore and it would focus on new business opportunities.