Bajaj Finserv may look to list life and general insurance entities: Exclusive

Bajaj Finserv Ltd. may be looking to list its life and general insurance businesses, sources with knowledge of the matter told CNBC-TV18 exclusively.

The listing of these entities could take place in financial year 2027, sources said.

The sources further added that Bajaj Finserv is not looking for any new partner for its insurance entities.

On Monday, Bajaj Finserv announced that the company and other promoter entities will acquire 26% stake from Allianz in Bajaj Allianz Life and Bajaj Allianz General Insurance.

Post this deal, Bajaj Finserv and other promoter entities will have a 100% stake in both these companies.

Bajaj Finserv and Promoter companies will pay ₹13,780 crore for a 26% stake in Bajaj Allianz General Insurance, valuing the entity at ₹53,346 crore and another ₹10,400 crore for another 26% stake in Bajaj Allianz Life Insurance, valuing the company at ₹40,000 crore.

"This deal does not change anything as far as the operations of BAGIC and BALIC are concerned. Removal of the overhang about Allianz’s future in this JV can be looked as sentimentally positive. Against the backdrop of the deal valuation also being broadly in line with our assigned values for the insurance entities in SoTP," brokerage firm Emkay wrote in its note. It has a "buy" rating on Bajaj Finserv with a price target of ₹2,000.

Shares of Bajaj Finserv trade 1.6% lower currently at ₹1,845. The stock is down 2.5% in the last one month.