Bajaj Auto reappoints Rajiv Bajaj, invests Rs 1,500 crore

Bajaj Auto's board has reappointed Rajiv Bajaj as managing director and CEO for another term. His new term will start on April 1. Rajiv Bajaj has been with the company since 1990 and has served as MD since 2005. The board also reappointed Abhinav Bindra as a non-executive independent director for a second term. In a separate announcement, Bajaj Auto will invest Rs 1,500 crore into its subsidiary, Bajaj Auto Credit Ltd. The investment will be in the form of equity capital, preference capital, or subordinated debt. This will happen in one or more stages. Bajaj Auto Credit Ltd currently has a turnover of Rs 16.65 crore and a net worth of Rs 258.23 crore. The company plans to grow its assets under management next financial year. They will use the funds gradually in the fiscal year 2025-26. As of now, Bajaj Auto Credit Ltd manages assets worth Rs 7,048 crore.