• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• BL Club
• Smartbuy
• Books

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Group Sites

• The Hindu
• The Hindu ePaper
• Business Line
• Business Line ePaper
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai, Dec. 23 The warring factions of the Bajaj family are set to bury the hatchet very soon. The Chairman of Bajaj Auto, Mr Rahul Bajaj, has kicked off the process of selling his stake in Bajaj Hindusthan to brother, Mr Shishir Bajaj. In turn, the latter is expected to divest his marginal stake in Bajaj Auto thereby bringing the curtains down on a dispute lasting over six years.

In a notice to the National Stock Exchange (NSE) on Monday evening, Mr Rahul Bajaj said he was proposing to acquire 29.2 per cent of Bajaj Hindusthan’s equity from group companies and relatives on December 30. His shareholding after the acquisition would be 29.41 per cent with 0.21 held by his immediate family.

Mr Shishir Bajaj would then buy this entire 29.62 per cent which would increase his stake in Bajaj Hindusthan to 32.47 per cent. There is no indication when he would sell his equity in Bajaj Auto tipped to be around two per cent.

More Stories on : Corporate Disputes | Two/Three Wheelers | Bajaj Auto Ltd

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line