Bajaj Holdings & Investment Limited has increased its equity stake in Bajaj General Insurance Limited and Bajaj Life Insurance Limited to 18.10% following Allianz SE‘s exit.
Allianz SE tendered its entire remaining 3% equity stake in both Bajaj General Insurance and Bajaj Life Insurance as part of a buyback offer. This move marks Allianz SE’s complete exit from these insurance subsidiaries of Bajaj Finserv Limited. Prior to this transaction, Bajaj Holdings held a 17.56% stake in each of the two companies.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).