Bajaj Finserv to decide on AMC biz by Oct: Sanjiv Bajaj

MUMBAI: Bajaj Finserv, which was listed on the National Stock Exchange today, would take a final decision on setting up an asset management company (AMC) by October this year, a top company official said.

"We are studying the business right now, and are in talks with a few parties for a joint venture. However, we have not yet finalised anything. By October, we will decide whether to get into the the AMC business or not," Bajaj Finserv's Managing Director Sanjiv Bajaj told reporters here today after the company's listing.

"By that time, we will be able choose our partner also, if we decide to go ahead," he added.

Bajaj said that the rationale behind the de-merger of the Bajaj group were growth opportunities across all verticals.

Auto major, Bajaj Auto, was de-merged into three new entities, Bajaj Holdings and Investments (new), Bajaj Auto and Bajaj Finserv. The de-merger process was completed in February this year.