El Dorado Holdings Cuts Stake In Bajaj Finance
El Dorado Holdings II Limited partly sold its stake in Bajaj Finance by offloading 5 lakh shares through bulk deal on NSE.
The investor sold the shares for R1300.05 per share amounting to over R65 Cr.
El Dorado had a total stake of 5.29% held through two entities as on 11th December 2012 shareholding pattern.
Other major stakeholder include Maharashtra Scooters (3.83%) and Reliance Capital (3.82%).
In May Bajaj group was planning to raise R1750 Cr for Bajaj Finserv and Bajaj Finance considering various options.
Incorporated in 1987, Pune-based Bajaj Finance is the financing subsidiary of Bajaj Finserve. In year 2010, vehicle finance company Bajaj Auto Finance rechristened itself as Bajaj Finance, to reflect as a diversified consumer and small business lending company. Bajaj Finance provides loans for two-wheelers and three-wheelers, consumer durables, small business loans, construction equipment finance, mortgages and loan against securities.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 19/12/12 | Bajaj Finance - El Dorado Holdings | Capital Market | - | 11.85 |
| 10/06/11 | Bajaj Finance - QIP | IPO / Offerings | - | 167.56 |
| 15/09/10 | Bajaj Auto Finance - Chrys Capital (Exit) | Private Equity | - | 7.72 |
| 09/09/10 | Bajaj Auto Finance - Chrys Capital (Stake Sale.) | Private Equity | - | 21.28 |
| 07/09/10 | Bajaj AUto Finance - Chrys Capital (Stake Sale) | Private Equity | - | 24.00 |
| 22/02/06 | Bajaj Auto - ChrysCapital Investment Advisors | Private Equity | ChrysCapital Investment Advisors | 10.00 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 22/05/13 | IPO / Offerings | - | City Union Bank Limited | - | Planned |
| 21/05/13 | M&A | IL&FS Financial Services Limited | Looking For | - | Planned |
| 20/05/13 | IPO / Offerings | - | ING Vysya Bank Limited | 364.37 | Announced |
| 17/05/13 | Private Equity | Vikram Pandit | JM Financial (NBFC) | - | Planned |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Bajaj Finance Limited |
Bajaj Finserv Limited Rahul Bajaj |
C/o Bajaj Auto Ltd Mumbai - Pune Road, Akurdi | Magma Fincorp Limited | http://www.bajajfinservlending.in |
| El Dorado Investment Company Private Limited | ||||
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