CCI Approves Bajaj Finserv鈥檚 Acquisition of Bajaj Allianz Firms

23 May 2025 CW Team

The Competition Commission of India (CCI) has approved the proposed acquisition of Bajaj Allianz Life Insurance Company Limited, Bajaj Allianz General Insurance Company Limited, and Bajaj Allianz Financial Distributors Limited by Bajaj Finserv Limited, Bajaj Holdings and Investment Limited, and Jamnalal Sons Private Limited.

The combination involves acquiring 26 per cent paid-up equity share capital of Bajaj Allianz Life Insurance and General Insurance companies by Bajaj Finserv Limited (BFS), Bajaj Holdings and Investment Limited (BHIL), and Jamnalal Sons Private Limited (JSPL) from Allianz SE. BFS will also acquire 50 per cent equity share capital of Bajaj Allianz Financial Distributors Limited (BAFDL) from Allianz.

BFS is a listed public limited company engaged in financial services including consumer and SME finance, housing finance, insurance, broking, mutual funds, and venture investing. BHIL is a holding and investment company registered as a non-banking financial company. JSPL is an unregistered core investment company.

Bajaj Allianz Life Insurance and General Insurance companies are joint ventures between BFS and Allianz, with BFS holding 74 per cent equity in both. BAFDL is a 50:50 joint venture registered as a corporate agent for life and general insurance.

The detailed order of the Commission will follow.

Source: Press Information Bureau, Competition Commission of India

Infrastructure Urban

23 May 2025

Craftsman Automation Plans Rs 7.5 to eight Billion Capex in FY26

Craftsman Automation, a leading manufacturer of auto components, has announced plans to invest Rs 7.5 to eight billion in capital expenditure for the financial year 2026. The company aims to increase its revenue to Rs 70 billion during the same period, demonstrating strong growth aspirations.Chairman and Managing Director Srinivasan Ravi disclosed these plans during the company鈥檚 Q4/FY25 earnings call. He emphasised that the company continues to prioritise expansion while maintaining operational resilience amidst a highly competitive manufacturing environment.This capital investment underlin..

Infrastructure Transport

23 May 2025

NHAI bars KNR after embankment collapse on NH-66 in Kerala

A structural failure involving the settlement of an embankment and collapse of a Reinforced Earth (RE) wall was reported on 19th May 2025 on the Ramanattukara鈥揤alanchery section of NH-66 in Kerala. The incident occurred as the project neared completion.Preliminary findings indicate that the failure was due to the concessionaire鈥檚 negligence in assessing and strengthening ground conditions before execution. In response, the National Highways Authority of India (NHAI) has barred M/s KNR Constructions Ltd from participating in any ongoing or future bids.The Project Consultant/Independent Engi..

Infrastructure Urban

23 May 2025

Euler Motors Secures Rs 6.38 Billion Funding With Hero

Electric commercial vehicle startup Euler Motors has secured Rs 6.38 billion in its latest Series D funding round, with Hero MotoCorp joining as a key strategic investor. British International Investment, the UK government鈥檚 development finance arm, also continued its support.Euler Motors will use the fresh capital to broaden its national sales and service footprint and accelerate development of new electric vehicle models. This funding arrives as India鈥檚 demand for electric commercial transport surges, especially in e-commerce, retail, and last-mile logistics.Founded in 2018 and based in ..