Bajaj Finserv to buy out Allianz’s 26% stake in its life & general insurance business | Stock Market News
Bajaj Finserv Limited on Monday, March 17, announced that the company will buy out Allianz’s 26 per cent stake in Bajaj Allianz Life & Bajaj Allianz General Insurance to assume full ownership of the firm, according to an exchange filing.
According to the filing data, Bajaj Finance will be acquiring 11,13,295 or 11.13 lakh equity shares with a face value of ₹10 per share in Bajaj Allianz General Insurance Company (BAGIC) at a price of ₹4,808.24 apiece.
The company also added that the acquisition of the Bajaj Allianz Life Insurance Company (BALIC) business will be for 15,22,161 or 15.22 lakh equity shares with a face value of ₹10 per share at a price of ₹2,654.12 apiece, as per the announcement.
(This is a breaking story. The story will be updated soon)
