Bajaj Finserve, Rahul Bajaj''s new firm, is set to make it to the stock exchanges on May 26 and the top management team is working overtime to make shareholders happy with a brand new alliance with time-tested partners Allianz. Bajaj group is in talks with Allianz to make a enter into AMC business. Three banks including Standard Chartered Bank will pick up 3 per cnet each in the asset management company while Bajaj Finserve will hold the balance 40 per cent. Currently, Bajaj has 3 separate JVs with Allianz and the latter holds 26 per cent in the life and general insurance joint ventures.
On other hand Bajaj''s stake in Bajaj Allianz Financial Distributors that sells third party financial products is currently 50 per cent. Rahul Bajaj on his part, however, says it will take sometime before the structure of the AMC company is finalized. The Bajaj group which is facing the heat due to a slowdown in its core business motorcycles now wants to shift gears to become a financial powerhouse with three pillars life insurance, general insurance and asset management driving growth. Finally Rajiv Bajaj who heads Bajaj Auto and his brother Sanjiv the boss of Finserve have their roles cut out and only time will tell who comes out winner.
On other hand Bajaj''s stake in Bajaj Allianz Financial Distributors that sells third party financial products is currently 50 per cent. Rahul Bajaj on his part, however, says it will take sometime before the structure of the AMC company is finalized. The Bajaj group which is facing the heat due to a slowdown in its core business motorcycles now wants to shift gears to become a financial powerhouse with three pillars life insurance, general insurance and asset management driving growth. Finally Rajiv Bajaj who heads Bajaj Auto and his brother Sanjiv the boss of Finserve have their roles cut out and only time will tell who comes out winner.
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