Bajaj Finserv May List Insurance Businesses by FY27
Sources have informed CNBC-TV18 that Bajaj Finserv Ltd. is exploring the possibility of listing its life and general insurance businesses. These sources, who are familiar with the matter, indicated that the listings could occur during the financial year 2027.
The sources also stated that Bajaj Finserv is not seeking a new partner for its insurance entities.
This comes after Bajaj Finserv’s recent announcement of acquiring a 26% stake from Allianz in both Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. Following this transaction, Bajaj Finserv and other promoter entities will hold a 100% stake in both companies.
Bajaj Finserv and its promoter companies are set to pay ₹13,780 crore for a 26% stake in Bajaj Allianz General Insurance, which values the entity at ₹53,346 crore. An additional ₹10,400 crore will be paid for another 26% stake in Bajaj Allianz Life Insurance, valuing the company at ₹40,000 crore.
Emkay, a brokerage firm, commented on the deal, stating, “This deal does not change anything as far as the operations of BAGIC and BALIC are concerned. Removal of the overhang about Allianz’s future in this JV can be looked as sentimentally positive. Against the backdrop of the deal valuation also being broadly in line with our assigned values for the insurance entities in SoTP.” Emkay currently has a “buy” rating on Bajaj Finserv with a price target of ₹2,000.
Bajaj Finserv shares are currently trading 1.6% lower at ₹1,845. The stock has declined by 2.5% over the past month.
