BAJAJFINSV

MUMBAI, Sept 26 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 20 billion rupees ($225.3 million) through the sale of bonds maturing in five years, three bankers said on Friday.

It has invited coupon and commitment bids for the issue later in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on September 26:

*Size includes base plus greenshoe for some issues

($1 = 88.7560 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Sumana Nandy)

(([email protected], [email protected]))

MUMBAI, Sept 10 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 20 billion rupees, which includes a greenshoe option of 10 billion rupees, through a sale of bonds maturing in three years and three months, three bankers said on Wednesday.

The non-banking financial company has invited bids from bankers and investors later in the day, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on September 10:

*Size includes base plus greenshoe for some issues

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Nivedita Bhattacharjee)

(([email protected]))

MUMBAI, Aug 22 (Reuters) - Indian non-banking finance company Bajaj Finance BJFN.NS withdrew its planned 10-year bond issue due to higher-than-expected yields, three bankers and traders said on Friday.

It was looking to raise 50 billion rupees ($571.82 million) and had invited commitment bids for the issue earlier in the day, they said.

Bajaj Finance did not immediately respond to a Reuters email seeking comment.

($1 = 87.4400 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

(([email protected], [email protected]))

MUMBAI, Aug 21 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 50 billion rupees ($574.7 million), which includes a greenshoe option of 40 billion rupees, through a sale of bonds maturing in 10 years, three bankers said on Thursday.

The non-banking financial company has invited bids from bankers and investors on Friday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on August 21:

*Size includes base plus greenshoe for some issues

($1 = 87.0070 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected]))

July 25 (Reuters) - Bajaj Finserv Ltd BJFS.NS:

• BAJAJ FINSERV Q1 CONSOL NET PROFIT 27.89 BILLION RUPEES

• BAJAJ FINSERV Q1 CONSOL TOTAL REVENUE FROM OPERATIONS 354.39 BILLION RUPEES

Source text: [ID:]

Further company coverage: BJFS.NS

(([email protected];;))

Rewrites paragraph 1, adds company statement in paragraph 7

July 24 (Reuters) - Bajaj Finance BJFN.NS beat analysts' estimate for quarterly profit on Thursday, as healthy loan growth countered a decline in the non-bank lender's asset quality.

The non-banking financial company said its consolidated net profit rose 20% from a year earlier to 47 billion rupees ($544.16 million) for the April-June period.

Analysts on average estimated 46.61 billion rupees, according to data compiled by LSEG.

Its assets under management rose 25%, which Jefferies said was encouraging at a time when sales for consumer durables slowed.

Analysts said the lender's asset growth was boosted by segments such as small- and medium-enterprise loans.

New loan bookings jumped 23% from a year ago.

Bajaj Finance said in a presentation it was a good quarter for AUM and profitability, but credit cost remained elevated.

The company's net interest income — the difference between interest earned and paid out — rose 22% to 102.27 billion rupees.

It has been grappling with higher loan losses in the last few quarters, especially in the unsecured segment.

Loan losses and provisions grew 26% on-year to 21.20 billion rupees, while gross non-performing asset ratio deteriorated to 1.03% from 0.96% in the previous quarter and 0.86% a year ago.

($1 = 86.3720 Indian rupees)

(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala and Shilpi Majumdar)

(([email protected]))

July 18 (Reuters) - German insurer Allianz ALVG.DE has formed an equally-owned reinsurance joint venture in India with Reliance Group-owned Jio Financial Services JIOF.NS, expanding its presence in the country's insurance market, the companies said on Friday.

Allianz and Jio Financial signed a non-binding agreement to establish a 50-50 joint venture for both general and life insurance operations in India, the companies added.

Reuters in March reported that Allianz was exploring a potential partnership with the Mukesh Ambani-led Reliance Group firm Jio Financial Services.

Bloomberg News was the first to report the talks of the possible partnership last year.

The German company is pushing forward with its expansion in the South Asian nation, describing India as an important growth market and stating it would pursue new opportunities to strengthen its position in the country's insurance sector.

Earlier this year, Allianz had agreed to sell its 26% stake in its non-life and life insurance joint ventures with India's Bajaj Finserv for $2.8 billion, ending a decades-long partnership.

(Reporting by Chandni Shah in Bengaluru; Editing by Mohammed Safi Shamsi)

(([email protected];))

MUMBAI, July 8 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 15 billion rupees ($175.1 million), including a greenshoe option of 10 billion rupees, through the reissue of 7.08% June 2030 bonds, three merchant bankers said on Tuesday.

The company has invited bids from bankers and investors on Wednesday, they said.

Bajaj Housing Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 8:

*Size includes base plus greenshoe for some issues

($1 = 85.6650 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

(([email protected]))

MUMBAI, July 4 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise up to 30 billion rupees ($351.5 million), including 20 billion rupees of a greenshoe option, through the sale of bonds maturing in three years and two days, three bankers said on Friday.

The non-banking financial company has invited bids from bankers and investors for the issue on Monday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on July 4:

*Size includes base plus greenshoe for some issues

($1 = 85.3390 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Ronojoy Mazumdar)

(([email protected]; [email protected]))

Adds details on insurance deals in paragraphs 15-17

By Charlie Conchie

LONDON, July 1 (Reuters) - Indian financial services group Bajaj Finserv has increased its customer target to 250 million in the next four years, chairman and managing director Sanjiv Bajaj told Reuters, betting on strong growth in the South Asian economy.

Bajaj Finserv, one of India’s biggest non-bank financial firms, in December set a target of 200 million customers by 2029, but has been winning business more quickly than expected.

"(It's) very promising. We've added 10 million new customers in the last two years," Bajaj told Reuters.

The largest company in the century-old Bajaj Group, Bajaj Finserv has about 92 million active customers in India across divisions including lending, asset management and insurance. The Bajaj Group holds a 55% stake in the financial services company, which is listed on the National Stock Exchange of India.

Bajaj told Reuters in an interview in London that Bajaj Finserv had reached only about 30% to 40% of its potential market and was looking to accelerate growth by targeting India's burgeoning middle class and first-time borrowers.

Bajaj Finserv's largest subsidiary, Bajaj Finance, typically provides loans to small businesses and consumers to fund purchases of household and electrical goods, as well as mortgages via its property finance arm, Bajaj Housing Finance.

The biggest risk to the company's growth plans is that the Indian economy falls short of an 8% growth rate, Bajaj said, which economists believe it needs to meet its goal of becoming a developed nation.

While India's central government has set out plans to lift economic growth, there was a danger this did not translate to a state level, he added.

"The states rightly still have a lot of power, and I hope politics doesn't get the better of economics over there, because then it will deny us that additional opportunity to grow," Bajaj said.

Bajaj Finserv sees customers' ability to repay loans improving from here, he added.

While profit at the firm rose to $1.1 billion in the 12 months to the end of March, up from $900 million the previous year, Bajaj Finserv has set aside cash to cover losses in its loan book since 2020.

The net loss ratio at the company's flagship lending arm Bajaj Finance has reached about 0.7% in the last four or five years, Bajaj said, indicating a "little higher stress".

"Post-COVID, we initially saw a period of stress where we saw revenge buying happening all over the world," he said, referring to the trend of customers spending on expensive goods after the pandemic.

"So actually credit performance improved, and then it (has) started normalising to say 2019 pre-COVID levels. We think by and large it's normalised there; another couple of quarters and it should be fine."

Bajaj Finserv agreed a deal to buy out Allianz from two general and life insurance joint ventures in March for around 2.6 billion euros.

The deal, which is awaiting approval from regulators, will be funded by Bajaj Finserv internally, Bajaj said.

"Neither of the insurance companies has needed capital for the last 8-10 years, so the internal reserves have supported their growth, and that's why we've never felt the need to go to an outside investor for capital," he said.

Bajaj said the company had begun using artificial intelligence chatbots to grant loans and speak with customers and the technology would be central to its growth plans.

Asked if the company could consider international expansion in the future, Bajaj said: "We don't have plans yet, but it could be".

(Reporting by Charlie Conchie
Editing by Mark Potter)

(([email protected]; +44 7787306777;))

MUMBAI, June 27 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 10 billion rupees ($117.02 million) for the reissue of its 7.02% May 2028 bonds, three merchant bankers said on Friday.

The company will offer a yield of 7.05% and had invited bids from bankers and investors earlier in the day, they said.

Bajaj Housing Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 27:

*Size includes base plus greenshoe for some issues

($1 = 85.4560 Indian rupees)

(Reporting by Khushi Malhotra and Dharamraj Dhutia; Editing by Vijay Kishore)

(([email protected], [email protected]))

MUMBAI, June 26 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion rupees ($116.4 million), including a greenshoe option of 5 billion rupees, through the reissue of 7.02% May 2028 bonds, three merchant bankers said on Wednesday.

The company has invited bids from bankers and investors on Friday, they said.

Bajaj Housing Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on June 26:

*Size includes base plus greenshoe for some issues

($1 = 85.8780 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

(([email protected]))

Recasts paragraph 1 with details of selling shareholders

June 6 (Reuters) - Two of the biggest shareholders of India's Bajaj Finserv BJFS.NS sold a combined stake of 1.79% in the financial services company on Friday for 55.06 billion rupees ($642.5 million), exchange data showed.

Bajaj Holdings and Investment BJAT.NS, which held a 39% stake in the company, sold 10.4 million shares at 1,925.20 rupees each, while Jamnalal Sons, which owned nearly 10%, offloaded 18.2 million shares at the same price.

Goldman Sachs, HDFC Mutual Fund and BofA Securities were among the buyers, according to the data.

($1 = 85.6200 Indian rupees)

(Reporting by Nishit Navin; Editing by Sonia Cheema and Shinjini Ganguli)

(([email protected];))

June 5 (Reuters) - The founding firms of India's Bajaj Finserv BJFS.NS will sell at least a 1.58% stake they own in the financial services company in a deal worth 47.5 billion rupees ($554 million), news channel ET NOW reported on Thursday, citing sources.

The firms, which include Jamnalal Sons and Bajaj Holdings and Investment BJAT.NS, will sell the 25.3 million shares they own in the secondary market at a floor price of 1,880 rupees per share, the report said.

The reported floor price is at a discount to Bajaj's closing price of 1,944 rupees on Thursday.

Bajaj Finserv's founding firms have an option to sell another 5.7 million shares, or a 0.36% stake they own in Bajaj Finserv, according to the report.

Bajaj Finserv did not immediately respond to a request for comment.

($1 = 85.7990 Indian rupees)

(Reporting by Nandan Mandayam in Bengaluru; Editing by Mrigank Dhaniwala)

(([email protected]; Mobile: +91 9591011727;))

MUMBAI, May 20 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 110 billion rupees ($1.29 billion, including a greenshoe option of 65 billion rupees, through the sale of bonds maturing in three years and one month and in five years and one month, three bankers said on Tuesday.

The non-banking financial company has invited bids from bankers and investors on Wednesday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on May 20:

*Size includes base plus greenshoe for some issues

($1 = 85.4425 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra
Editing by Sonia Cheema)

(([email protected]))

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, May 5 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 42 billion rupees ($497.4 million), including a greenshoe option of 35 billion rupees, through the reissue of 7.02% April 2031 bonds and 7.38% June 2030 bonds, three bankers said on Monday.

The non-banking financial company has invited bids from bankers and investors for the issue on Tuesday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on May 5:

*Size includes base plus greenshoe for some issues

($1 = 84.4330 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected]; [email protected]))

MUMBAI, April 30 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bonds worth 10 billion rupees ($117.7 million) for a sale of bonds maturing in one year and 10 months, two merchant bankers said on Wednesday.

The company will pay an annual coupon of 7.14% on this issue and had invited bids from bankers and investors earlier in the day, the bankers said.

Bajaj Housing Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on April 30:

*Size includes base plus greenshoe for some issues

($1 = 84.9725 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra
Editing by)

(([email protected]))

MUMBAI, April 25 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 12.75 billion rupees ($149.33 million) for bonds maturing in two years and two months, five-year and two months, and a reissue of 7.3763% June 2028 bonds, three bankers said on Friday.

The non-banking financial company had invited bids from bankers and investors for the options earlier in the day, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on April 25:

*Size includes base plus greenshoe for some issues

($1 = 85.3830 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

(([email protected]))

April 23 (Reuters) - Indian non-bank lender Bajaj Finance BJFN.NS said on Wednesday that it will consider the sub-division and bonus issue of shares on April 29.

The company will also report quarterly earnings on the same day.

Bajaj Finance's profit in the October-December period jumped 18% year-on-year and it had forecast a profit growth of 22% to 23% for the fiscal year ending March 2026.

(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)

(([email protected]; +918447554364;))

MUMBAI, April 16 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 5 billion rupees ($58.4 million) for the sale of bonds maturing in three years and two months, three bankers said on Wednesday.

The non-banking financial company will offer a yield of 7.3763% and had invited bids from bankers and investors for the issue earlier in the day, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on 16:

*Size includes base plus greenshoe for some issues

($1 = 85.6310 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected]; [email protected]))

MUMBAI, April 15 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 30 billion rupees ($349.8 million), including 25 billion rupees of a greenshoe option, through the sale of bonds maturing in three years and two months, three bankers said on Tuesday.

The non-banking financial company has invited bids from bankers and investors for the issue on Wednesday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on April 15:

*Size includes base plus greenshoe for some issues

($1 = 85.7700 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, April 9 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 12.50 billion rupees ($144 million) for the reissue of 7.55% April 2035 bonds, three bankers said on Wednesday.

The non-banking financial company will offer a yield of 7.55% on this issue and had invited bids from bankers and investors for the issue on Tuesday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on April 9:

*Size includes base plus greenshoe for some issues

($1 = 86.6000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, April 7 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 40 billion rupees ($466.18 million), including a greenshoe option of 27.50 billion rupees, through the reissue of 7.55% April 2035 bonds, three bankers said on Monday.

The non-banking financial company has invited bids from bankers and investors for the issue on Tuesday, they said.

Bajaj Finance did not respond to a Reuters email for comment.

Here is the list of deals reported so far on April 7:

* Size includes base plus greenshoe for some issues

($1 = 85.8030 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sherry Jacob-Phillips)

(([email protected]))

MUMBAI, April 2 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 60 billion rupees ($700.26 million), including a greenshoe option of 20 billion rupees, selling bonds maturing in five years and in 10 years, three bankers said on Wednesday.

The non-banking financial company has invited bids from bankers and investors for the issue later in the day, they said.

Bajaj Finance did not respond to Reuters email for comment.

Here is the list of deals reported so far on April 2:

*Size includes base plus greenshoe for some issues

($1 = 85.6820 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

(([email protected]))

March 21 (Reuters) - Bajaj Finserv Ltd BJFS.NS:

• BAJAJ FINSERV LTD - APPOINTS RAJEEV JAIN AS ADDITIONAL DIRECTOR

Source text: ID:nBSE3Vc3b4

Further company coverage: BJFS.NS

(([email protected];;))

March 20 (Reuters) - Indian non-banking financial company Bajaj Finance BJFN.NS on Thursday named Anup Kumar Saha as its managing director, replacing Rajeev Jain.

The non-banking lender said Jain will continue as Vice Chairman.

(Reporting by Ashish Chandra in Bengaluru; Editing by Shreya Biswas
)

(([email protected]; +91 7982114624;))

MUMBAI, March 19 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 5.45 billion rupees ($62.99 million) for bonds maturing in four years and 11 months, three bankers said on Wednesday.

The non-banking financial company will pay an annual coupon of 7.80% on this issue and had invited bids from bankers and investors on Tuesday, they said.

Bajaj Finance did not respond to Reuters email for comment.

Here is the list of deals reported so far on March 19:

*Size includes base plus greenshoe for some issues

($1 = 86.5230 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

** India's Bajaj Finserv BJFS.NS down 1.7% at 1,840 rupees

** Top loser on benchmark Nifty 50 .NSEI, which is up 1.1%

** Germany's Allianz ALVG.DE says to sell 26% stake in JV with Bajaj Finserv to Bajaj Group for ~2.6 bln euros ($2.84 bln)

** Kotak Institutional Equities says deal values Bajaj Allianz at 400 bln rupees, 28% less than Kotak's fair value

** Kotak cuts stock to "add" from "buy", trims fair value to 2,000 rupees from 2,100 rupees

** Analysts avg rating is "buy"; median PT 2,000 rupees-LSEG data

** BJFS up 17% YTD, 2nd-highest on Nifty 50 (down 4% YTD)

** BJFS unit Bajaj Finance BJFN.NS up 0.2% on the day; up 26% YTD, most on Nifty 50

(Reporting by Sethuraman NR in Bengaluru)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

** Shares of non-banking financial firm Bajaj Finserv BJFS.NS rise as much as 3.9% to 1,877.90 rupees

** Almost 3.2 mln shares traded in 15 block deals at 1,864.90 to 1,870.50 rupees per share - data compiled by LSEG

** Prices at a premium to stock's last close of 1,807.45 rupees

** Stock among top pct gainers in Nifty 50 index .NSEI which is up 0.3%

** Stock is witnessing its most active trading session since January 2, with more than 5.9 mln shares changing hands, 3.3x its 30-day avg

** Avg rating of 11 analysts equivalent of "buy", median PT is 2,000 rupees - data compiled by LSEG

** Stock up 19.1% YTD vs 5.1% fall in Nifty 50 index

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

MUMBAI, Feb 27 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 24.30 billion rupees ($279 million), including a greenshoe option of 20.25 billion rupees, through reissue of 7.60% February 2030 bonds, three bankers said on Thursday.

The non-banking financial company has invited bids for the issue from bankers and investors later in the day, they said.

The company did not respond to Reuters' request for comment.

Here is the list of deals reported so far on February 27:

*Size includes base plus greenshoe for some issues

($1 = 87.1000 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sumana Nandy)

(([email protected]))