Jamnalal Sons Pvt. Ltd and Bajaj Holdings & Investment Ltd, both part of Bajaj Finserv Ltd’s promoter group, are slated to offload up to 31 million shares, representing a 1.9% stake in the company, via block deals, according to the term sheet of the transaction.
Bajaj Finserv Ltd is the holding company for the financial services businesses of the Bajaj Group. As of March 2025, promoter entities held approximately 60.64% stake in the company, as per the shareholding data on BSE.
The document showed that the base deal is worth ₹4,750 crore with an option to increase the transaction by ₹1,078 crore, which allows the sellers to sell extra shares if there is strong demand.
The indicative floor price for this deal is set at ₹1,880 per equity share, which implies a 3.3% discount to Thursday’s closing price of ₹1,943.50 on the BSE, as per the term sheet.
Kotak Securities is handling the transaction.
Bajaj Finserv Ltd reported a 14% year-on-year rise in consolidated net profit to ₹2,417 crore for the quarter ended March 2025. Total consolidated income for the quarter grew to ₹35,596 crore, compared to ₹32,042 crore in the January–March quarter of the previous fiscal.
According to a 5 May report by Mirae Asset Sharekhan, Bajaj Finance’s earnings growth was healthy (in-line) at 19% year on year, but the management has revised guidance for FY26 slightly on the lower side with respect to the return ratio and assets under management growth.
The brokerage believes strong growth visibility in the lending business and a healthy medium to long-term outlook for both insurance businesses could act as a positive trigger for strong consolidated earnings going forward. Moreover, scaling up of the new business would further support performance, which has not been factored in the brokerage’s valuation. Mirae Asset Sharekhan has a ‘buy’ rating on the stock with a target price of ₹2,350.
Kotak Institutional Equities also remains positive about Bajaj Finserv’s ability to steer business to gain market share and profitability.
“With a complete stake in the insurance ventures at the group and the group’s star CEO, Rajeev Jain, joining the Board (though in a non-executive capacity), we expect the transformation exercise at group companies to gather momentum,” highlighted the Kotak report dated 1 May.
That said, any decline in the performance of its subsidiaries could weigh on the company’s earnings growth and overall profitability.
The recent rebound in Indian equities, after correcting more than 10% from its peak, has reignited institutional interest in block deals, according to experts. These large trades are gaining momentum once again, providing a fillip to India’s equity capital markets at a time when IPO activity remains subdued and market volatility persists. As reported by Mint, institutional investors lined up four block deals worth nearly ₹3,500 crore on 4 June.
