The financial services and wind energy businesses were transferred to Bajaj FinServ Limited (BFS) as part of the recently concluded demerger of Bajaj Auto Limited, approved by the Hon. High Court of Judicature at Bombay by its order dated December 18, 2007. The demerger is effective from the Appointed Date i.e. closing hours of business on March 31, 2007.
Bajaj FinServ will strive to be one of the top financial services businesses in India focused on delivering superior customer experience through competitive products and class leading services while providing consistent and superior returns to our shareholders and maintaining the high levels of integrity of Bajaj.
The company is currently engaged in life insurance; general insurance and consumer finance businesses and has plans to expand its business by offering a wide array of financial products and services in India. Apart from financial services, BFS is also active in wind-energy generation.
Bajaj Auto Finance Limited, a group NBFC, offers various consumer finance products to the customers such as auto loans, personal loans, loans for consumer durables and computers and SME finance.
BFS is engaged in life and general insurance businesses through its joint ventures with Allianz SE namely Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Limited. Both these companies have established themselves as industry leaders by being number two among the private players in their respective businesses.
Bajaj Allianz Financial Distributors Limited, a 50:50 JV between BFSL and Allianz SE, is currently engaged in the business of distribution of financial products.
The wind-energy project of BFSL operates 138 windmills in Maharashtra with an installed capacity of 65.2 MW.