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Bajaj Finserv Limited ( (IN:BAJAJFINSV) ) has shared an update.
Bajaj Finserv Limited has announced that Allianz SE intends to exit its joint ventures with Bajaj, specifically Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited. Bajaj Finserv will acquire Allianz’s 26% equity stake in these ventures, increasing its ownership to 75.01% in each company. This move, pending regulatory approvals, is expected to enhance Bajaj’s control and drive value for stakeholders by consolidating ownership. Additionally, Bajaj will acquire Allianz’s stake in Bajaj Allianz Financial Distributors Limited, making it a wholly-owned subsidiary. The acquisition aims to improve access to insurance and financial resilience in India.
More about Bajaj Finserv Limited
Bajaj Finserv Limited operates in the financial services industry, offering a range of products including insurance, lending, and wealth management services. The company focuses on providing comprehensive financial solutions to individuals and businesses, with a significant presence in the Indian market.
YTD Price Performance: 14.60%
Average Trading Volume: 71,569
Current Market Cap: 2885.1B INR
Learn more about BAJAJFINSV stock on TipRanks’ Stock Analysis page.