Bajaj Holdings buys 27% stake in Maharashtra Scooters from WMDC
18th Jun 2019

Bajaj Holdings & Investment has got the credit of 27% stake in Maharashtra Scooters (MSL) with the transfer of 30,85,712 equity shares by Western Maharashtra Development Corporation (WMDC). The total consideration paid by the Company to WMDC with respect to the said acquisition was around Rs 222.48 crore at the price i.e. Rs 232 per share along with interest 18% per annum (p.a.) from the date of award i.e. January 14, 2006 up to the date of payment effected on January 14, 2019.

Consequent upon the acquisition of 27% stake of MSL from WMDC, the Company holds 51% shareholding in MSL. MSL has hence become a subsidiary of the Company now.

Bajaj Holdings & Investment is essentially a holding and investment company focusing on earning income through dividend, interest and gains on investments held.