Bajaj-Force Motors splits-up
The partnership between Bajaj Group and Force Motors came to an end with Bajaj Group selling off all the shares it held in Force Motors. Bajaj Group Companies – Bajaj Holdings, Bachhraj & Co. and Jamnalal Sons, collectively held a stake of 23 percent in Force Motors.
According to the latest Stock Exchange Disclosures, Bajaj Groups’s 23% stake came down to 9.32% last month, and gradually decreased to 0% till date. The Bombay Stock Exchange figures suggest that the Force Motors stake (valued at Rs. 2200 crore) in Bajaj Auto is much higher than its annual turnover (around Rs. 2000 crore) of 2014.
Finally after decades of court arguments, both of these companies split-up and are looking forward to compete in their respective sectors, with Bajaj focusing on 2/3-wheelers and Force motors in developing SUVs and Light Commercial Vehicles (LCVs).