Bajaj Finserv Block Deal Worth ₹5,506 Crore Raises Eyebrows as Promoters Trim Stake

In a major market development, Bajaj Finserv witnessed a massive block deal where shares worth ₹5,506 crore changed hands. The deal involved nearly 2.9 crore shares being exchanged at a price of ₹1,925 per share. Market sources indicate that the promoter group of Bajaj Finserv was behind this transaction, reducing its stake in the financial services giant.

Promoters Plan to Raise ₹4,750 Crore with Upsize Option

As per earlier reports, the promoter entities were preparing to offload a 1.58% stake in Bajaj Finserv via a block deal to raise around ₹4,750 crore. An additional upsize option of ₹1,080 crore was also on the table, which could increase the total deal size to approximately ₹5,830 crore. The floor price for the deal was set at ₹1,880, reflecting a 3.3% discount compared to the closing price on June 5.

Kotak Mahindra Capital is reported to be handling the transaction. At around 9:25 am, the stock was seen trading slightly lower at ₹1,935.9 on the NSE, marking a mild dip of 0.5%.

Solid Financials Backing the Move

Despite the partial stake sale, Bajaj Finserv continues to show strong financial health. The company posted a 14% jump in consolidated net profit, reaching ₹2,417 crore for the March quarter of FY25. This compares to ₹2,119 crore recorded in the same quarter last year.

Full Ownership of Insurance Ventures

In a strategic move earlier this year, Bajaj Finserv had announced plans to acquire Allianz SE’s 26% stake in both Bajaj Allianz Life Insurance and Bajaj Allianz General Insurance. This ₹24,180 crore transaction will increase Bajaj’s stake to 100% in both companies. It involves spending ₹13,780 crore for the general insurance unit and ₹10,400 crore for the life insurance business. The deal is currently awaiting regulatory clearances from bodies such as the Competition Commission of India and IRDAI.

Strong Stock Performance Over the Year

Bajaj Finserv has delivered impressive returns for investors, with the stock gaining 18.3% in the past six months and 28.15% over the last year. The company serves as the holding entity for major businesses like Bajaj Finance, Bajaj Allianz Life, and Bajaj Allianz General Insurance, all of which are key pillars of the Bajaj Group.