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Bajaj Auto incorporates 'Bajaj Consumer Finance' as wholly-owned subsidiary

The wholly owned subsidiary company in India shall carry out business of financing in the field of Automobile.

December 07, 2021 9:24 IST | India Infoline News Service
Bajaj Auto Ltd has informed to the exchanges regarding incorporation of a wholly owned subsidiary of the Company.

It is informed that, a wholly owned subsidiary company in the name of "BAJAJ AUTO CONSUMER FINANCE LIMITED" has been incorporated on 06 December 2021 by the company.

Earlie on October, the Board of Directors has approved the incorporation of a captive finance subsidiary (NBFC) of the company to undertake the business of solely financing the customers of the products manufactured/marketed by the company and its subsidiaries/associates. 

As per regulatory filing, the wholly owned subsidiary company in India shall carry out business of financing in the field of Automobile and in particular solely for the 2 wheeler, 3 wheeler and light 4 wheeler categories manufactured and/or marketed by Bajaj Auto Limited and/or its subsidiaries/associates.

At around 9:26 AM, Bajaj Auto was trading at Rs3,275 apiece up by Rs20.75 or 0.64% on Sensex.

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