| | DECEMBER 20219BAJAJ AUTO ASSIMILATES 'BAJAJ CONSUMER FINANCE' AS WHOLLY-OWNED SUBSIDIARYIN FOCUSBY CEO INSIGHTS TEAMBajaj Auto Ltd. has announced to the exchanges that it will incorporate wholly owned subsidi-ary of the Company. The wholly owned sub-sidiary company in the name of "Bajaj Auto Consumer Finance Limited" has been incorpo-rated on 06 December 2021 by the company.The Board of Directors earlier has approved the incorporation of a captive finance subsidiary (NBFC) of the company in order to the business of solely financing the customers of the products manufac-tured/marketed by the company and its subsidiaries/associates.As per regulatory norms, the wholly owned sub-sidiary company in India shall carry out business of financing in the field of Automobile and in particular solely for the 2-wheeler, 3-wheeler and light 4-wheel-er categories manufactured and/or marketed by Bajaj Auto Limited and/or its subsidiaries/associates.The new company is believed to strengthen the financing options for its customers, as financing is key to an automobile business. The Proposed Author-ized Capital of the new subsidiary is going to be Rs. 100 crore and Proposed Paid-up capital will be Rs.5 crore.
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