Auto giant Bajaj Auto Board on Thursday approved a demerger scheme, splitting group into three separate entities with the creation of two new companies.
As part of the scheme, Bajaj Holdings and Investment (which would be the new auto company) would be renamed as Bajaj Auto and the existing Bajaj Auto would be renamed as Bajaj Holdings and Investment (which would act as the primary investment company).
The auto business will be transferred to Bajaj Holdings. Bajaj Auto, consequently, will be renamed Bajaj Holdings. Rs 1,500 crore cash will be transferred to Bajaj Holdings. The new Bajaj Holdings will get Rs 3,700 crore cash or cash equivalents. Besides, it will get holdings of group companies, worth Rs 2,700 crore. Its share capital would be Rs 150 crore.
More on Bajaj Auto Demerger:
Bajaj Auto holdings: Rs 1051 (20% holding co discount)
Bajaj Auto: Rs 1021
Bajaj Finserve: Rs 573.3* at 51% stake in insurance co’s
Sum of parts value = Rs 2645 per share
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