Bajaj Auto Ltd. Renamed

By Divya Sai on 3/14/2008

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Pursuant to the Scheme, Bajaj Auto Ltd is re-named as Bajaj Holdings & Investment Ltd. New F&O contracts is to be introduced today; futures lot size of 250 shares, options strike priced between Rs 20-2700.
It goes ex-demerger (goes into ND period; out on Mar 24). Auto stock will re-list later ((Technically Bajaj Auto is delisting and Holdings arm is listing).
Bajaj Auto has fixed March 25, 2008 as record date for determining the shareholders of the Company, who would be eligible to receive shares of Bajaj Auto Ltd (new) and Bajaj Finserv Ltd in the ratio of 1:1.
The Hon'ble High Court of Judicature at Bombay has sanctioned the Scheme Arrangement between Bajaj Auto Ltd, Bajaj Holdings & Investment Ltd and Bajaj Finserv Ltd and its respective shareholders and creditors. This marks the successful completion of the demerger process, which was initiated by the Company with the Board approval on May 17, 2007. The demerger reinforces the commitment of Bajaj Auto Ltd group to the businesses of the resulting Companies.
==> Highlights of the Scheme of De-merger :-
(a) Bajaj Auto Ltd (the new name of Bajaj Holdings & Investment Ltd under the scheme) to focus on auto business.
(b) Bajaj Finserv Ltd (BFS) to focus on wind energy generation, insurance, consumer finance, financial products distribution business and new initiatives in financial services space and
(c) Bajaj Holdings & Investment Ltd (the new name of Bajaj Auto Ltd under the scheme) will function primarily as an investment Company and focus on new business opportunities.

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