Bajaj Finserv already has partnership with Germany-based Allianz Group for its life insurance and general insurance businesses. Reportedly, it is also into vehicle finance through its subsidiary Bajaj Auto Finance.
Sanjiv Bajaj, MD of Bajaj Finserv, said: “The application is still with Sebi. The asset management company should be operational by the end of this calendar year. Allianz global investors and Bajaj Finserv will hold 51% and 49% stakes, respectively, in the equally managed proposed venture,” reported the newspaper.
