From hamara Bajaj to mera Bajaj
The idea for this split also came from the man behind the first split: Shishir Bajaj.
By Parvathy Ullatil & Gouri Agtey Athale, TNN |
MUMBAI: FOR long, consumers have said “Hamara Bajaj”. Now, it’s the turn of the promoter family to say so. While Rahul Bajaj, the man who built Bajaj Auto, is still embroiled in a legal wrangle with brother Shishir over the division of the group’s assets, his sons are now talking of dividing Bajaj Auto.
The idea for this split also came from the man behind the first split: Shishir Bajaj. In 2002, he wanted the investment company to be separated from the auto business. Back then, when the Bajaj family dispute was at its peak, Rahul along with cousins Shekhar, Madhur and Niraj shot down the proposal. Once the genie of division was out of the bottle, it was difficult to put it back inside. Rahul Bajaj had to listen to similar requests from FIIs invested in his company. Five years since Shishir mooted the idea, the board of directors of Bajaj Auto, including the promoter family, now seem prepared to take some decisions on the impending split in the company.
The split, while unlocking shareholder value, will bring about a detente between Rajiv & Sanjiv. Sanjiv has always had to cope up with a charismatic father, who still — in some ways — remains the face of Bajaj Auto and a brother, who is largely credited with the company’s turnaround and its transformation from a scooter company to the country’s second-largest bike maker.
The idea for this split also came from the man behind the first split: Shishir Bajaj. In 2002, he wanted the investment company to be separated from the auto business. Back then, when the Bajaj family dispute was at its peak, Rahul along with cousins Shekhar, Madhur and Niraj shot down the proposal. Once the genie of division was out of the bottle, it was difficult to put it back inside. Rahul Bajaj had to listen to similar requests from FIIs invested in his company. Five years since Shishir mooted the idea, the board of directors of Bajaj Auto, including the promoter family, now seem prepared to take some decisions on the impending split in the company.
The split, while unlocking shareholder value, will bring about a detente between Rajiv & Sanjiv. Sanjiv has always had to cope up with a charismatic father, who still — in some ways — remains the face of Bajaj Auto and a brother, who is largely credited with the company’s turnaround and its transformation from a scooter company to the country’s second-largest bike maker.
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