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Bajaj Finance
BSE: 500034|NSE: BAJFINANCE|ISIN: INE296A01016|SECTOR: Finance - Leasing & Hire Purchase
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Company History - Bajaj Finance
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.
 
 2003
 
 -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
 
 2004
 
 --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
 
 2008
 
 - 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%) 
 
 2010
 
 -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
 
 2011
 
 -Bajaj Auto Finance Ltd. - Board recommended Dividend of Rs. 10 per
 share (100%)
 
 2012
 
 Bajaj Finance Ltd - Board recommended Dividend of Rs. 12/- 
 
 2013
 -Bajaj Finance Ltd Issues Rights in the Ratio of 3:19
Source : Dion Global Solutions Limited
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