Bajaj Auto was trading at Rs 648 and Bajaj Finserv at Rs 570 at 11:03 IST on BSE on the re-listing of the two firms as a result of the demerger of erstwhile Bajaj Auto into three separate entities in a move aimed at unlocking value for shareholders.
The Bajaj Auto stock debuted at Rs 945 on BSE. The stock hit a high of Rs 945 and a low of Rs 556 so far during the day. Bajaj Auto manufacturers two & three wheelers.
The Bajaj Finserv stock debuted at Rs 700 on BSE. The stock hit a high of Rs 999 and a low of Rs 525 so far during the day. Bajaj Finserv comprises of financial services and wind farm businesses and has major presence in insurance, consumer finance and distribution space.
The third company Bajaj Holdings & Investment, which was listed on
In May 2007, Bajaj Auto was demerged into three new entities Bajaj Holdings & Investments, Bajaj Auto and Bajaj Finserv.
For each share of Bajaj Auto, the shareholders continued to hold one share of the company with face value of Rs 10 and were allotted one share of Rs 10 face value of Bajaj Holdings and Investment and one share of Rs 5 face value of Bajaj Finserv.
The total of the current prices of the three scrips - Bajaj Holdings & Investment at Rs 635, Bajaj Auto at Rs 648 and Bajaj Finserv at Rs 570, works out to Rs 1883. This is a 9.45% discount as compared to last traded price of Rs 2079.65 of Bajaj Auto on
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