Bajaj Finserv shares gain 2%; among top gainers on Sensex; here's why

Bajaj Finserv share price gained 2 per cent in trade on Wednesday, logging an intraday high at ₹2,045 per share on BSE. The demand for the stock came after the Competition Commission of India (CCI) approved the acquisition of Bajaj Allianz Life Insurance Company, Bajaj Allianz General Insurance Company, and Bajaj Allianz Financial Distributors by Bajaj Finserv, Bajaj Holdings & Investment, and Jamnalal Sons. 

 

"We are pleased to inform that the Competition Commission of India (CCI) has accorded its approval on May 20, 2025, for the acquisition of a stake in Insurance subsidiaries along with the promoter and promoter group company," the filing read. 

 

At 12:17 PM, Bajaj Finserv shares were up 0.92 per cent at ₹2,020.8 per share on the BSE. In comparison, the BSE Sensex was up 0.22 per cent at 81,362.42. The market capitalisation of the company stood at ₹3,22,886.1 crore. The 52-week high of the stock was at ₹2,134.45 per share and the 52-week low of the stock was at ₹1,419 per share. 

 

In March, post the above preliminary discussions, Allianz SE expressed their intent to exit the insurance joint ventures and has offered to sell their entire holdings aggregating to 26 per cent equity stake in each of the insurance joint ventures to the Bajaj group. 

 

The board approved the acquisition of a 26 per cent equity stake owned by Bajaj Allianz in its insurance companies, viz. Bajaj Allianz General Insurance Company Limited and Bajaj Allianz Life Insurance Company Limited with participation by the promoter and promoter group entity of the company, namely, Bajaj Holdings and Investment Limited and Jamnalal Sons Private Limited. 

 

A share purchase agreement was hence signed. According to the filing, the company would be acquiring from Allianz, 11,13,295 equity shares of ₹10 each in Bajaj Allianz General Insurance Company at ₹4,808.24 per share and 15,22,161 equity shares of ₹10 each in Bajaj Allianz Life Insurance Company at ₹2,654.12 per share, amounting to 1.01 per cent equity stake in each of the companies. 

 

With the above acquisition, Bajaj group would be holding 75.01 per cent of the total equity share capital in each of Bajaj Allianz General Insurance  and Bajaj Allianz Life Insurance. The acquisition was subject to regulatory approval.