BAJAJFINSV

March 21 (Reuters) - Shares of India's Bajaj Finance BJFN.NS rose 3.5% on Friday to extend their record-high rally, a day after it elevated veteran leader and managing director Rajeev Jain to the post of vice chairman, which analysts termed a "smooth succession."

The non-banking financial company also announced present deputy MD Anup Kumar Saha will be replacing Rajeev Jain as MD.

"The move should allow Jain to stay involved in short- and mid-range planning at Bajaj Finance and investor engagements," Jefferies said in a note.

Smooth succession, healthy growth and improving asset quality will aid valuations, the brokerage said, adding that Bajaj Finance remains a top pick.

Bajaj Finance has risen 31% so far this year, and is the top gainer on the Nifty 50 index .NSEI among 22 stocks in the green. Nifty 50 is down 1.9%.

The stock has been hitting record highs since January after posting strong third-quarter numbers and on expectations of continuing growth momentum.

Analysts, on average, rate Bajaj Finance at "buy," with the median price target at 8,896 rupees.

(Reporting by Sethuraman NR; Editing by Janane Venkatraman)

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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
)

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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)

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** 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)

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Updates with details, sources

FRANKFURT, March 17 (Reuters) - The German insurer Allianz ALVG.DE said on Monday that it was selling its 26% stake in two joint ventures with India's Bajaj Finserv BJFS.N to the Bajaj Group for around 2.6 billion euros ($2.84 billion).

Last year, Bajaj Finserv had said that Allianz was considering exiting the joint ventures, ending a decades-old partnership.

Allianz said in its announcement that India remained an important growth market and it would explore new opportunities there.

The Germany company had tried unsuccessfully to increase its stake in the Bajaj joint ventures, two people with knowledge of the situation told Reuters.

One of the people said that Allianz was exploring a possible venture with the Mukesh Ambani-led Reliance Group firm Jio Financial Services JIOF.NS.

Bloomberg first reported the talks of the possible partnership last year.

($1 = 0.9158 euros)

(Reporting by Alexander Huebner and Tom Sims
Editing by Tomasz Janowski and Sabine Wollrab)

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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)

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MUMBAI, Feb 7 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 7.50 billion rupees ($85.8 million) for the reissue of 7.7591% December 2027 bonds, three bankers said on Friday.

The non-banking financial company will offer a yield of 7.77% and had invited bids for the issue from bankers and investors earlier 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 Feb. 7:

*Size includes base plus greenshoe for some issues

($1 = 87.4070 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

MUMBAI, Feb 6 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 45 billion rupees ($514 million), including a greenshoe option of 37.50 billion rupees, through the reissue of 7.7591% December 2027 bonds, three bankers said on Thursday.

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

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

Here is the list of deals reported so far on Feb. 6:

*Size includes base plus greenshoe for some issues

($1 = 87.5470 Indian rupees)

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

(([email protected]))

MUMBAI, Feb 4 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 5 billion rupees ($57.49 million) for the reissue of 7.60% Feb 2030 bonds, three bankers said on Tuesday.

The non-banking finance company will offer a yield of 7.74% and had invited bids for the issue from bankers and investors on Monday, they said.

The company did not immediately respond to a Reuters request for comment.

Here is the list of deals reported so far on Feb. 4

*Size includes base plus greenshoe for some issues

($1 = 86.9720 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

MUMBAI, Jan 31 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 30 billion rupees ($346.31 million), which includes a greenshoe option of 25 billion rupees, through reissue of 7.60% Feb 2030 bonds, three bankers said on Friday.

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

The company did not immediately respond to a Reuters request for comment.

Here is the list of deals reported so far on Jan. 31:

*Size includes base plus greenshoe for some issues

($1 = 86.6280 Indian rupees)

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

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BENGALURU, Jan 30 (Reuters) - Diary of India economic, corporate events on Jan.30

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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Adds details from conference call in paragraph 2, 9 and 10

By Nishit Navin and Siddhi Nayak

Jan 29 (Reuters) - India's Bajaj Finance BJFN.NS posted a rise in third-quarter profit on Wednesday, helped by strong loan growth during the holiday season, and said it expected a profit growth of 22%-23% in the fiscal year ending March 2026.

The company expects 25% balance sheet growth next fiscal year, assuming stable conditions, and maintained a long-term outlook of 25%-27% growth in assets under management and 23%-24% profit growth, without specifying a timeline.

Earlier in the day, the non-banking financial company reported a consolidated net profit of 43.08 billion rupees ($497.84 million) for the quarter ended Dec. 31, up around 18% from a year ago.

Indians celebrate a string of festivals during the October-December period, spending heavily on items ranging from apparel to electronics, which prop up demand for credit.

Bajaj Finance's net interest income grew 23% to 93.82 billion rupees in the December-quarter, while its assets under management grew about 28% to 3.98 trillion rupees.

Indian lenders have been grappling with asset quality stress led by unsecured segments such as credit cards and personal loans.

The company's provisions, or money set aside to cover potential bad loans, grew 64% to 20.43 billion rupees. On a quarter-on-quarter basis, provisions rose 7%.

Bajaj Finance said that its loan losses have stabilised.

The non-banking lender does not see itself transitioning into a bank in the near future, Managing Director Rajeev Jain said in a conference call.

"You should expect business as usual for the short to medium term," he added.

($1 = 86.5330 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Varun H K and Vijay Kishore)

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BENGALURU, Jan 27 (Reuters) - India's Bajaj Housing Finance BAJO.NS reported a 25% jump in third-quarter profit on Monday, bolstered by strong credit growth.

The country's biggest home loan financier by market value reported a profit of 5.48 billion rupees ($63.5 million) for the three months ending Dec. 31, compared to 4.37 billion rupees a year ago.

Demand for homes in India, especially premium residences, has remained strong over the last few quarters, which form a key part of Bajaj Housing Finance's assets.

Residential real estate prices are set to rise steadily over the next few years, driven by demand luxury properties from cash-rich individuals, according to a Reuters poll of housing experts.

Last week, smaller rival PNB Housing Finance reported a 43% jump in third-quarter profit, driven by robust demand for home loans.

Bajaj Housing's loan assets rose 31% year-on-year to 955.7 billion rupees, while its assets under management climbed 26% to 1.08 trillion rupees.

Net interest income, the difference between interest earned and paid, rose 25% to 8.06 billion rupees.

Its asset quality remained sequentially steady, with gross bad loans as a percentage of total loans standing at 0.29% at the end of December. On a year-to-year basis, however, it was a marginal decline from 0.25%.

The company shares ended 3% lower ahead of the results, amid weakness in the broader equity market.

($1 = 86.2850 Indian rupees)

(Reporting by Nishit Navin; Editing by Varun H K)

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Corrects Airtel's customer numbers to 375 million from 370 million in paragraph 3 after official clarification from the company

BENGALURU, Jan 20 (Reuters) - Indian telecom major Bharti Airtel BRTI.NS will be offering non-banking lender Bajaj Finance's BJFN.NS financial products in the country, the companies said on Monday.

Airtel will initially offer Bajaj Finance's products through its application, and later via its physical stores, they said in a joint statement.

The partnership will enable Bajaj Finance, the country's largest private-sector non-banking financial company, to tap Airtel's 375 million customers. The non-bank lender's customer base stood at 97.12 million as of December-end, up from 80.31 million a year earlier.

Currently, two products of Bajaj Finance have been piloted on Airtel's app and by March, it would go up to four products — gold loan, business loan, co-branded EMI card, and personal loan.

Airtel plans to offer nearly 10 products of the non-banking financial company to its customers within this calendar year.

(Reporting by Nishit Navin in Bengaluru; Editing by Rashmi Aich)

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MUMBAI, Jan 9 (Reuters) - India's Bajaj Housing Finance has raised an aggregate of 27.75 billion rupees ($323 million) through the reissue of 7.66% March 2028 and 7.56% October 2034 bonds, two merchant bankers said on Thursday.

The company will offer a yield of 7.75% and 7.5850%, respectively, on these issuances and had invited bids on Tuesday, the bankers said.

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

Here is the list of deals reported so far on Jan. 9

*Size includes base plus greenshoe for some issues

($1 = 85.9140 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

(([email protected]))

MUMBAI, Dec 19 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 5 billion rupees ($58.8 million) for bonds maturing in three years and three months, two merchant bankers said on Thursday.

The company will pay a coupon of 7.66% on this issue and had invited bids from bankers and investors for the issue earlier in the day, the bankers said.

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

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

*Size includes base plus greenshoe for some issues

($1 = 85.0290 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

MUMBAI, Dec 18 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion Indian rupees ($117.8 million), including a greenshoe option of five billion rupees, through a sale of bonds maturing in three years and three months, two merchant bankers said on Wednesday.

The company has invited bids from bankers and investors for the issue on Thursday, the bankers said.

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

Here is the list of deals reported so far on Dec. 18:

*Size includes base plus greenshoe for some issues

($1 = 84.9200 Indian rupees)

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

(([email protected]))

MUMBAI, Dec 6 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 10 billion rupees ($118.1 million) for bonds maturing in two years and three months, three bankers said on Friday.

The non-banking finance company will pay an annual coupon of 7.7215% and had invited bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters request for comment.

Here is the list of deals reported so far on Dec. 6:

*Size includes base plus greenshoe for some issues

($1 = 84.6875 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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MUMBAI, Dec 5 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 30 billion rupees ($354.15 million), including a greenshoe option of 25 billion rupees, through the sale of bonds maturing in two years and three months, three bankers said on Thursday.

The non-banking finance company has invited bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters request for comment.

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

*Size includes base plus greenshoe for some issues

($1 = 84.7090 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)

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Adds details, background from paragraph 2 onwards

Oct 23 (Reuters) - The Mukesh Ambani-led Reliance Group firm Jio Financial Services JIOF.NS is in talks with Germany-based Allianz SE ALVG.DE to set up an insurance partnership in India, Bloomberg News reported on Wednesday.

Allianz and Jio are looking to set up a general insurance and a life insurance company in India, the report said, citing people familiar with the matter. The report did not mention further details on the potential deal.

This comes a day after one of India's biggest private insurers, Bajaj Finserv BJFS.NS, said that Allianz is considering exiting its life and general insurance joint ventures with the Bajaj Group.

Allianz was weighing exiting the joint venture due to a dispute over the direction of the partnership, Bloomberg News reported on Tuesday.

Jio Financial and Allianz declined to comment on the report, saying they do not comment on market speculation, according to Bloomberg.

The companies did not immediately respond to Reuters' requests for comment.

Jio Financial, spun out of billionaire Ambani's Reliance Group last year, offers car, bike, health, and life insurance.

Bloomberg on Tuesday also reported that the world's biggest asset manager BlackRock BLK.N was in talks with Jio Financial for a private credit venture.

(Reporting by Ashna Teresa Britto; Editing by Abinaya Vijayaraghavan)

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Adds details from Bloomberg News report in paragraphs 4-6, background

BENGALURU, Oct 22 (Reuters) - India's Bajaj Finserv BJFS.NS said on Tuesday that Allianz SE ALVG.DE is considering exiting its life and general insurance joint ventures with the Bajaj Group, potentially ending a decades-old partnership.

"Allianz has indicated to Bajaj that given its strategic priorities, it is actively considering an exit from the life and general insurance joint ventures," Bajaj Finserv said, adding that talks were at an early stage.

Bajaj Finserv holds a 74% stake each in two JVs, while Allianz owns the remaining.

Founded in 2001, Bajaj Allianz General Insurance is one of the biggest private insurers in India, while Bajaj Allianz Life Insurance is among the fastest-growing life insurers in India with assets under management of over 1 trillion rupees ($11.89 billion).

Earlier in the day, Bloomberg News reported that Allianz was weighing the exit due to a dispute over the direction of the partnership.

The report said Bajaj Group was not letting the German insurer raise its stake in the JVs at a discounted price, and Allianz was not given a say in strategic decisions.

Bloomberg adde dthat Allianz is now looking to buy stakes in newly established insurance firms to retain its presence in India, where the insurance sector has grown rapidly in recent years.

Both Bajaj and Allianz did not immediately respond to Reuters' requests for comments.

($1 = 84.0700 Indian rupees)

(Reporting by Nishit Navin in Bengaluru; Editing by Rashmi Aich and Sonia Cheema)

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MUMBAI, Oct 18 (Reuters) - India's Bajaj Housing Finance BAJO.NS raised 15 billion rupees ($178.5 million) through the issue of a corporate bond with a rarely-used structure, two merchant bankers said on Friday.

The company sold five-year bonds on Thursday, and the coupon is linked to 91-day Treasury Bill yield, as it would pay a spread of 155 basis points over the yield.

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

The 91-day T-bill yield has hovered below the key policy rate since the start of this month, and is expected to ease further in coming weeks.

Here is the list of deals reported so far on Oct. 18:

*Size includes base plus greenshoe for some issues

($1 = 84.0430 Indian rupees)

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

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MUMBAI, Oct 15 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 15 billion rupees ($178.43 million), including a greenshoe option of 5 billion rupees, through a sale of bonds maturing in five years, three bankers said on Tuesday.

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

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

*Size includes base plus greenshoe for some issues

($1 = 84.0670 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

(([email protected]))

MUMBAI, Oct 9 (Reuters) - India's Bajaj Finance BJFN.NS has accepted bids worth 5 billion rupees ($59.58 million) for bonds maturing in three years and two months, three bankers said on Wednesday.

The non-banking finance company had invited bids for the issue on Tuesday, they said.

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

*Size includes base plus greenshoe for some issues

($1 = 83.9260 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, Oct 7 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 30 billion rupees ($357.27 million), including a greenshoe option of 25 billion rupees, through a sale of bonds maturing in three years and two months, three bankers said on Monday.

The non-banking finance company has invited bids for the issue later in the day, they said.

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

*Size includes base plus greenshoe for some issues

($1 = 83.9690 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Abinaya Vijayaraghavan)

(([email protected]))

MUMBAI, Sept 30 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise 30 billion rupees ($358.41 million), including a greenshoe option of 25 billion rupees, through a sale of bonds maturing in 10 years, three bankers said on Monday.

The non-banking finance company has invited bids for the issue on Tuesday, they said.

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

*Size includes base plus greenshoe for some issues

($1 = 83.7040 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

MUMBAI, Sept 25 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 5 billion rupees ($59.83 million) through the sale of bonds maturing in 10 years, three bankers said on Wednesday.

The company will pay an annual coupon of 7.56% and has invited bids from bankers and investors on Friday, they said.

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

* Size includes base plus greenshoe for some issues

($1 = 83.5750 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

(([email protected]))

MUMBAI, Sept 23 (Reuters) - India's Bajaj Finance BJFN.NS has raised 30.97 billion rupees ($371.1 million) through reissue of 7.93% May 2034 notes and 7.98% July 2029 bonds, three bankers said on Monday.

The non-banking finance company had invited bids for the issue on Thursday, they said.

Here is the list of deals reported so far on Sept. 23:

*Size includes base plus greenshoe for some issues

($1 = 83.4470 Indian rupees)

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

(([email protected]))

MUMBAI, Sept 19 (Reuters) - India's Bajaj Finance BJFN.NS plans to raise up to 60 billion rupees ($717.2 million) through the reissue of 7.93% May 2034 notes, and 7.98% July 2029 bonds, three bankers said on Thursday.

The non-banking finance company has invited bids for the issue later in the day.

Here is the list of deals reported so far on Sept. 19

*Size includes base plus greenshoe for some issues

($1 = 83.6640 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia; Editing by Sonia Cheema)

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BENGALURU, Sept 16 (Reuters) - India's Bajaj Housing Finance BAJO.NS shares debuted at over double the offer price in pre-open trade on Monday as investors bet on strong growth in a booming home loan market.

The stock listed at 150 rupees on the National Stock Exchange of India, compared with an offer price of 70 rupees.

The company - the second-biggest home loan financier in the country by assets under management (AUM) and the hottest float this year - attracted bids worth about $38.60 billion last week.

(Reporting by Dimpal Gulwani in Bengaluru)

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