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Rahul, cousins raise stake in Bajaj Auto

BS Corporate Bureau in Mumbai

Even as the tussle between the Bajaj family members remain inconclusive, three of the cousins from the Rahul Bajaj faction - Rahul himself, Madhur and Shekhar Bajaj - have acquired additional shares in Bajaj Auto, the flagship two-wheeler company.

In an intimation to the Bombay Stock Exchange, Bajaj Auto said Rahul Bajaj had acquired 36,000 shares (0.0356 per cent) of the company, while cousins Madhur and Shekhar had acquired 10,000 and 18,954 shares, respectively.

While the volume of shares acquired is small in relation to Bajaj Auto's total equity base of Rs 101.18 crore (Rs 1.011 billion), it assumes significance as Shishir Bajaj, who is believed to be pressing for a split in family assets, recently acquired a part of the stake held by Unit Trust of India in Bajaj Hindustan, a company under his control.

In the larger scheme of things, both the parties now appear keen to increase their shareholding in the companies under their control.

The greater Bajaj family consists of brothers Rahul and Shishir, and their cousins, Shekhar, Madhur and Niraj. All five have an equal shareholding in all Bajaj group companies, at around 5-6 per cent each.

Shishir Bajaj and his son, Kushagra, have been pressing for a more active role in Bajaj Auto.

This is not acceptable to Rahul Bajaj, credited with building Bajaj Auto to its present stature.

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