How it started
History
Originally incorporated as Bajaj Auto Finance Limited on 25 March 1987 as a non-banking financial company, the company primarily focused on providing two and three-wheeler finance. After 11 years in the auto finance market, Bajaj Auto Finance launched its initial public issue of equity share and was listed on the Bombay Stock Exchange and National Stock Exchange of India. At the turn of the 20th century, the company ventured into the consumer durables finance sector and started offering small-size loans. In the subsequent years, Bajaj Auto Finance provided business and property loans as well.
In 2007, the company split its business of manufacturing and its financial operations. Bajaj Finserv was the result of this split.
In 2010, the company's registered name changed from Bajaj Auto Finance Limited to Bajaj Finance Limited. This change was made to depict wider scope of its operations in the financial industry. In its first seven years, Bajaj Finance mainly borrowed wholesale and lent retail. Since 2014, it has also borrowed retail and lent wholesale.
In January 2023, Bajaj Finance launched its loan against property (LAP) business for micro, small, and medium-sized enterprise (MSME) customers.
From Wikipedia’s article on Bajaj Finance, shared under CC BY-SA 4.0.2