BSE:500034 | NSE:BAJFINANCEEQ | 58888:baaf | IND:NBFC - Consumer | ISIN code:INE296A01024 | SECT:NBFC
The Company History page lists out the major events in chronological order for Bajaj Finance Ltd.
|Company History - Bajaj Finance Ltd.|
|1987 - Bajaj Auto Finance was incorporated on 25th March, as a Private Limited Company to take up Hire Purchase Finance and Lease Finance activity. It became a deemed public company by virtue of Section 43(A) of the Act with effect from 20th October 1987 and
the word private was deleted by the Registrar of Companies, Maharashtra, Mumbai.
- The company is primarily engaged in the Hire Purchase Financing of Two, Three Wheelers, Leasing of equipments and vehicles and Bill Discounting. The company is also engaged in Real Estate Operations as Project Management Consultant. The Company was promoted by Bajaj Auto Ltd and Bajaj and Auto Holdings Ltd.|
1992 - The Company is proposed to enter into other areas of financing, such as Bills Discounting.
- The Company is proposed to increase the financing activities of the Company by introduction of various schemes of financing cars, trucks and leasing of equipment.
- It is proposed to increase the share capital of the Company by public issue of upto 50,00,000 equity shares of Rs.10/- each at a premium, to be determined in consultation with the concerned Authorities.
- During the year under review, Company has opened a brach office at Hyderabad for promoting Company's financing schemes.
1993 - The Company has, for the first time, issued commercial Papers (CPs) to the extent of Rs.80 million. The issue of Commercial Papers has been rated as P1+ (pronounced P one plus) by The Credit Rating and Information Services of India Limited (CRISIL). This rating is the best rating for CPs.
- During the year under review, Company has opened its branch offices at New Delhi, Chennai, Bangalore and Mumbai for promoting Company's financing schemes.
- The proposal of issue of 67,00,000 equity shares of Rs.10/- each at a premium of upto Rs.70/- per equity share was approved by the shareholders.
- It is proposed to issue shares to the public at an appropriate time and at a suitable premium after taking into account the Capital Market conditions.
1994 - The Company offered 64,88,200 No. of equity shares of Rs 10 each at a premium of Rs 80 per share of which 23,13,200 shares were offered to promoters and their associates and the balance 41,75,000 shares were offered to the Indian Public. All were accepted.
- During the year under review, Company has opened its branch office at Nagpur for promoting Company's financing schemes.
- The Company is entering into financing of other automobiles mainly through the branch network.
1995 - During the year, Company has allotted, pursuant to a Public Issue, 4,15,000 No. of Equity Shares of Rs.10 each for cash at a premium of Rs. 80 per Equity Share. After allotment of shares ,Company's paid up share capital is Rs. 164,884,500 as at 31.3.95.
- After allotment of shares against Public Issue on 28th May, 1994, Company has ceased to be a subsidiary Company of Bajaj Auto Limited.
- The Company has opened its branch offices at Vijaywada, Nasik, Vishakhapattanam, Calcutta, Goa, Madurai and Pune for promoting Company's financing schemes.
1996 - The Company has obtained a credit rating of FAA+ from CRISIL for its Fixed Deposit Schemes.
- During the year, Company has opened its branch offices at Baroda and Trivandrum for promoting Company's financing schemes. The Company has a network of 15 branches.
1997 - Bajaj Auto Finance plans to double its borrowing capacity from Rs 100 crore to Rs 200 crore.
- The Credit Rating and Information Services of India Ltd (Crisil) has assigned P1+ ratings to the debt programmes of Wipro and Bajaj Auto Finance Ltd.
- Crisil has also reaffirmed the FAAA rating assigned to the fixed deposits (FD) programme of Bajaj Auto Finance and the FA+ rating assigned to the FD programme of Vysya Bank Housing Finance Ltd.
1998 - Bajaj Auto Finance Ltd (BAFL), has entered into a tie-up with Godrej GE Appliances, Korean consumer durables conglomerate LG and air-conditioning major Blue Star to finance their consumer durables.
- Bajaj Auto Finance Ltd has come out with a scheme a low downpayment plan to aggressively push sales of its parent company. The low downpayment scheme is being launched by BAFL, along with its earlier 9 per cent interest finance scheme.
1999 - Bajaj Auto Finance has gone in for demateralisation of its share and joined the National Securities Depository Ltd.
- BAFL's tie-up with BPL to finance all its consumer durables except refrigerators is aimed at synergising its existing business and adding value for its customers.
- BAFL has regional tie ups with Daewoo's in Punjab, Voltas in Andhra Pradesh, Sharp in Maharashtra and Carrier Aircon in Gujarat, some of which could be upgraded to national tie ups.
2000 - The Credit Rating Information Services of India Ltd (Crisil) on March 6 reaffirmed the EAAA rating for the fixed deposit programme of Bajaj Auto Finance Ltd (BAFL). The company's Rs 10-crore commercial paper programme has been assigned P1+ rating.
2002-Bajaj Auto Finance Ltd has informed that the Board has decided to reappoint Mr Dipak Poddar as Managing Director of the Company, for a further period of five years.
-Approves to voluntarily delist the Equity Shares from Pune Stock Exchange Ltd & The Stock Exchange Ahmedabad, in accordance with the provisions of SEBI (Delisting Securities)- Guidelines 2003
--Ties up with Bajaj Auto Finance for finance scheme on Intel Pentium 4 PC.
-Bajaj Finance Ltd Issues Rights in the Ratio of 6:10
- Bajaj Auto has increased the stakes in the extremely competitive 125 cc bike segment by offering its vehicles at extremely low financing rates.
- Bajaj Auto Finance Ltd has informed that the Board of Directors of the Company at its meeting held on October 22, 2008, have appointed Shri. D J Balaji Rao as an additional Director of the Company. 2009
-Bajaj Auto Finance Ltd. - Board recommends Dividend of Rs. 2/- per share (20%)
-Bajaj Auto Finance Ltd. - Board recommends Dividend of Rs. 6/- per share (60%)
-Company has changed its name from Bajaj Auto Finance Ltd to BAJAJ FINANCE LTD
-Bajaj Auto Finance Ltd. - Board recommended Dividend of Rs. 10 per share (100%)
Bajaj Finance Ltd - Board recommended Dividend of Rs. 12/-
2013 -Bajaj Finance Ltd Issues Rights in the Ratio of 3:19
2014 -Bajaj Finance acquires Bajaj Financial Solutions for worth Rs 17cr.
2015 -Bajaj Finance subsidiary gets license to commence housing finance business from National Housing Bank (NHB)
2016 -Bajaj Finserv introduces the smarter way to pay, Enables EMI payments on retail fashion, travel and small appliances -Bajaj Finance Ltd has approved Issue of one fully paid bonus equity share of the face value of Rs. 2 each for one equity share of the face value of Rs. 2 each
2017 - Bajaj Finance enters into SSA with MobiKwik
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