Bajaj Auto arm raises KTM stake
Netherlan based, wholly owned subsidy of Bajaj Auto, named as Bajaj International Holdings (BAIHBV) has recently raised its stake in KTM Power Sports. This step by Bajaj, will...
Netherlan based, wholly owned subsidy of Bajaj Auto, named as Bajaj International Holdings (BAIHBV) has recently raised its stake in KTM Power Sports. This step by Bajaj, will help the company to keep a strong hold on the Europe's second largest power sports bike producer.
Bajaj Auto is India's second largest bike manufacturer and on Tuesday it purchased a total of 2.44 lakh worth shares in KTM. This deal of the company has raised its share to astonishing 38.09% from the earlier recorded 35.7 %.
It was this April when the company last raised its share from 31.9 % to 35.7 %. and now finally company stands at the position of 38.09 % stake in Europe's top sport bike manufacturing company.
With these figures it is clear that Bajaj auto is raising its stakes in KTM at a steady rate and the company is able to increase its grip on KTM operations with time. As compared to today's value, the Bajaj was at a low point of 14.5 % stake in 2007 but with time the company has effectively raised its stake in KTM.
On the occasion, S Ravikumar, Senior VP Business Development & Assurance, Bajaj Auto said, “The driving force in KTM has been the brand fit and the non-over-lapping strategy,”
In terms of KTM shreholders listing. Bajaj stands at the second position with a share of 38.9 %. in KTM, the largest shareholder is Stefan Pierer and Rudolf Knuenz hold with a pie of 51 %. this makes it clear that Indian major is not much far from the top shareholder of KTM.
Bajaj and KTM have maintained real cordial relationship on joint projects. The first ever product made by them as a pair is KTM Duke 125 and it will hit the European markets by 2011. the Austria manufacturer has shown interest in manufacturing the entry level bike also with Bajaj for European markets. KTM Duke will be launched in Indian markets in the second half of 2011.
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