Bajaj Auto Finance

YEAR                       EVENTS
 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.