Sharekhan's research report on Bajaj Finserv
Allianz SE has decided to exit its JV with Bajaj Finserv. Thus, now the company may look at listing of its insurance businesses, BAGIC and BALIC. Bajaj Finserv is not looking for any new partner for its insurance entities. Allianz SE will sell its entire ~26% stake in both Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance to Bajaj group companies for Rs. 24,180 crore.
Outlook
We maintain a Buy with an unchanged SOTP-based PT of Rs. 2,350. The next key trigger would be - IPO of both insurance businesses, resulting in value unlocking.
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