Thursday, Sep 04, 2003
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The plan is to create a separate investment company by taking out about Rs. 1000 crores from the cash surplus of Rs. 3000 crores of Bajaj Auto, he said.
"We are planning to do it to improve the price earning ratio of Bajaj Auto by creating a separate company. While Bajaj Auto will remain the manufacturing company, the investment company will be the holding company," he told reporters on the sidelines of an industry conference here. He, however, said the plan was yet to be taken up by the board.
Mr. Bajaj said post-demerger, the shareholding pattern of both companies would remain the same.
The Bajaj group now has about 51 per cent shareholding in Bajaj Auto.
Mr. Bajaj said the plan was subject to comformity with the corporate governance regulations and relatively high stamp duty in Maharashtra. PTI
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