Sharekhan's research report on Bajaj Holdings and Investment
Allianz SE has decided to exit the JV with Bajaj Finserv. It would sell its entire ~26% stake in both Bajaj Allianz Life and Bajaj Allianz General Insurance to the promoter group companies. Bajaj Holdings will acquire a ~20% stake in each insurance companies and balance to be acquired by other promoter entities. The next key trigger would be the IPO of both the insurance business, resulting in value unlocking.
Outlook
We maintain a Buy on Bajaj Holdings, with a revised SOTP-based PT of Rs. 14,346, factoring the upside in valuations of its key associate companies and new investments.
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