Bajaj Auto Ltd: History
 
 
1945

- The company was incorporated on the 29th of November in the name of "Bachraj Trading Corporation, Ltd.". 1960

- On 21st June, the name was changed to Bajaj Auto Pvt Ltd . On 24th August the name again changed to Bajaj Auto Ltd.

- The Company's main object is to manufacture and marketing of `Bajaj' scooters, motorcyces and three-wheelers and spare parts thereof.

1966

- 25 forfeited shares reissued. In Jan. 1967, 17,375 Rights shares issued at par in prop. 1:4. In March 1967, 17,357 Bonus shares issued in prop. 1:5. 65 forfeited shares reissued subsequently.

1970

- 55 forfeited shares reissued, 52,185 Bonus shares issued in prop. 1:2. 5 forfeited shares reissued.

1971

- On 31st March the technical collaboration with M/s. Piaggio & Co. expired and the brand name of the vehicles manufactured by the company was changed from Vespa to Bajaj from April.

1972

- 120 forfeited shares reissued. 78,340 Bonus Equity shares then issued in prop. 1:2.

1975

- Under the an agreement with Western Maharashtra Development Corporation Ltd., a joint sector company was incorporated under the name Maharashtra Scooters Limited on 11th June. Its plant has started manufacture of Scooter in the brand name "PRIYA". A three wheeler with rear engine was developed and marketed in this period.

- On 2nd February, the company entered into a technical collaboration with P.T. Tunas Bekasi Motor Co. of Jakarta for providing technical know-how for the manufacture of two wheelers and three wheelers in Indonesia. It also entered into an agreement with Paijifa Industrial Co. of Taiwan for manufacture of scooters in Taiwan. 1976

- 25 forfeited shares reissued in 1974-75. In 1976-77, 2,35,045 Bonus shares issued (prop. 1:1) Forfeiture of 10 shares annualled.

1979

- Company entered into a technical know how agreement with Menoka Motors Ltd., of Chittagong for setting up an assembly plant for scooters and three wheelers in Bangalore.

- During the year company's erstwhile collaborators Piaggio & Co. s.p.A, Italy, filing a suit along with Vespa of America Corporation U.S.A. for damages for alleged breach of contract, trade mark laws, etc. amounting to Rs. of $ 50 million (equivalent to Rs. 44.15 crores).

- A suit was also filed against the distributors of the company, Zweirad Raoth Gmbh in West Germany by Vespa GmbH, a subsidiary of Piaggio, praying for prohibiting the distributors from selling Bajaj Scooters in West Germany.

1980

- During the year the company invested U.S. $ 15,000 in the equity capital of Bajaj America Incorporated.

- Bajaj Auto Holdings Ltd. and Bajaj Auto Finance Ltd. are subsidiaries of the Company.

1981

- The Bajaj M80 was entirely developed by the company and introduced in the market. The licenced capacity of 2 wheelers was increased from 80000 to 160000 vehicles per year and that of 3 wheelers from 15000 to 20000 numbers per annum and scooter CKD packs from 30000 to 32000 numbers per annum.

- During the year the company made a further investment of U.S.$ 15000 in the equity capital of Bajaj America Incorporated. 1983

- The licensed capacity was increased to 3,00,000 scooters during the year. The company entered into two agreements for technical know how. One with Kawasaki Heavy Industries for the manufacture of motorcycles upto 100cc engines. Another with Vigel Spa of Italy for the manufacture of special purpose machine tools for Company's own use. During the year the company issued 15% NCDs worth Rs. 23.40 crores as rights for augumenting long term resources for working capital requirements. The same is to be redeemed on 31st December 1998.

- 4,70,000 bonus shares issued in prop. 1:1.

1984

- A suitable electronic ignition system for scooters was developed and introduced on the "Bajaj-Cub".

- The Company received a Letter of Intent for manufacturing 50,000 three-wheelers at a location in Uttar Pradesh.

- During the period International Finance Corporation, Washington (USA) sactioned a foreign currency loan of U S $ 22 million.

- During August-September the company offered 15% non-convertible debentures for Rs. 23.40, crores. The issue was oversubscribed and the Company was allowed to retain an additional amount of Rs 11.70 crores out of the oversubscribed portion for financing non-project capital expenditure for replacement, modernisation, etc.

- During the period, settlement with Piaggia & Co. s.p.A of the disputes pending in USA was arrived at and the same was entered in U S District Court of San Fransisco. The settlement agreement did not provide for any monetary payment by the Company.

1987

- The operations of the Waluj unit was hit on account of suspension of operations from 7th November followed by lockout strike by workmen. Normal operations were resumed after 6th July 1988.

- The company signed two agreements for technical assistance, one for electronic components like magneto and electronic ignition system and another for restyling of rear engine three wheeler body.

- Shares sub-divided in January 1988. 94,06,400 bonus shares issued in prop. 1:1 in April 1988.

- The Kawasaki-Bajaj `RTZ' model was launched in February 88. 1988

- The licensed capacity was increased to 10,00,000 numbers of two wheelers and three wheelers per annum, through a letter of intent. There was a 7 month strike by the workmen at the Waluj plant.

1989

- During this period company undertook a project of metal replacement by polymeric materials in association with Department of Science & Technology and National Chemical Laboratory.

- A new generation magneto was also under development in collaboration with a Spanish company and work on the initial design had commenced.

- During this year it entered into a technical collaboration with Orbital Engine Co., Australia for development of fuel injection system for 150cc scooters to reduce fuel consumption and emissions.

- The Company developed on its own an 80cc motorcycle under the brand name "Bajaj M-80". 1990

- The production of `Bajaj Sunny' the new 50cc scooter commenced in March.

- During the year, commercial production of special purpose machine tools for the company's requirements commenced at Waluj .

- During the year a settlement was arrived at between the company's distributors in West Germany, Zweirad Raoth Gmbh and Vespa Gmbh which was objecting to the distributors selling the scooters in W. Germany. They finally agreed to, Scooters being sold with littering "Made in India".

- The letter of intent for expansion of the licensed capacity at Waluj from 3,00,000 to 10,00,000 two and three wheelers per annum was converted into an industrial licence.

1991

- During this period production of a 4 stroke motor cycle in collaboration with Kawasaki Heavy Industries Ltd. Japan was started at Waluj.

- 188,12,800 bonus shares issued in prop. 1:1.

1992

- Sales volume dropped by 5% from the previous year due to the transporters' 10 day strike in July and intermittent labour problems at Waluj.

- Bajaj-Sunny and Kawasaki 4S, were launched at some more centres. Also, an economy version of KB-100 RTZ, called, "COLT", a 2-stroke 100cc motorcycle was introduced in the market.

1993

- Bajaj Stride, will be launched with certain improvements based on initial feed back. During the year `Chetak Classic' a powerful and fuel efficient 4S Champion a highly fuel efficient 4-Stroke Motorcycle and M-80 Motorcycle with additional utility features were introduced.

1994

- Bajaj Auto is planning to produce two new models in the motorcycle and scooter segment each. Bajaj Trotter, an 80cc, three gear motorcycle would soon be in the market at an estimated price of Rs. 20,000.

- 376,25,600 bonus shares issued in prop. 1:1. 43,42,676 No. of equity shares underlying Euro issues allotted.

- The Company proposed to increase the production capacity of two and three wheelers from 12,72,000 to 20,00,000 units per year by 1998.

- The company made a GDR issue of US $ 110 million by offering 43,42,676 equity shares at an issue price of US $ 25.33 or 794.60 per share. - Bajaj Auto entered into an agreement with Kubota Corporation of Japan, for technical know-how to manufacture diesel engines exclusively for 3 wheeler application and non-exclusively for other applications.

- The Golden Jubilee year of the Company, production in two-wheeler alone surpassed the target and led to a scale of operations only second to Japan in the world.

- The Company entered into an agreement with a Japanese, R & D firm for design of a 74 cc 4-stroke variomalic vehicle

- Some specific technical assignments and/or joint development projects were also undertaken with AVL, Austria, CSIR, New Delhi and Indian Institute of Petroleum; Dehra Dun.

1995

- During this period Sunny-Zip a 60cc upgraded version of `bajaj sunny' was launched.

1996

- Company was planning to set up a third manufacturing plant near Pune to house manufacturing facilities for production of new generation two-wheelers with a production capacity of 10 lakh vehicles per annum.

- The Company had a busy product development agenda in addition to the present range include - Cygnet Scooterette, upgraded classic and 4 stroke scooters, up-graded M80, up-grades and variants of its Kawasaki Motorcycle, on all new 4 stroke Kawasaki motorcycle and Diesel and 4 stroke petrol engined three wheelers.

- On January a 74cc new look step-through motorcycle was introduced in Pune under the name `Rave'. During year Co. also launched Bajaj classic and Bajaj Super Excel.

- The Company developed and implemented new 150cc 3-port 2 stroke engines on all scooters and three wheelers.

- The Bureau Veritas Quality Internationals (BVQI) has awarded ISO 9001 certificate to the Akurdi Plant. The Motorcycles and Moped Division in Waluj has already received the certificate in 1994.

- Bajaj Auto Ltd., developed a new four-stroke-motorcycle in collaboration with Kawasaki Heavy Industries (KHI) Japan.

1997

- The classic SL scooter with anti-dive braking and electric start option was launched gradually at various centres since September.

- The Company has introduced during the year under review, "Boxer", a 4-stroke motorcycle, targetted at semi-urban and rural markets.

- 39,796,938 Bonus Equity shares issued in prop. 1:2.

1998

- During the year the Company launched its diesel autoriksha in Andhra Pradesh. The product was having the features like, high fuel economy, low noise level and better riding comfort. The engine is manufactured in collaboration with M/s Kubota of Japan. - During the year company offered attractive financing scheme for purchases of two-wheelers.

- Two-wheeler giant Bajaj Auto Ltd is set to revamp its entire supply chain which would involve trimming down the number of vendors and a possible relook at the existing dealer chain.

- Bajaj Auto Ltd., the two and three wheeler major, has for the first time, entered into a marketing tie-up for scooters with the Italian company, Cagiva.

- Bajaj Auto Ltd., will be launching Classic SL scooters in Karnataka.

- Japan's Kawasaki Heavy Industries (KHI), the technical collaborator of India's largest two wheeler manufacturer Bajaj Auto Ltd, is likely to source its latest four stroke motorcycle Kawasaki Caliber from Bajaj's Waluj plant in Aurangabad for Kawasaki's export requirements.

- The management of Bajaj Auto signed a wage agreement with the Bharatiya Kamgar Sen, the union representing majority of its workforce, on 21st July.

- The Company has introduced during the year under review, "Boxer", a 4-stroke motorcycle, targetted at semi-urban and rural markets. - The Company has entered into an Agreement with National Securities Depository Ltd (NSDL), for enabling investors to hold and trade in Company's shares in electronic form.

- Bajaj Auto Ltd has tied up with Zee TV to impart maintenance training through television programmes.

- Bajaj Auto Ltd (BAL), has tied up with Zee Education for a unique six month-long tele-training programme for lakhs of scooter mechanics across the country.

- Bajaj Auto launched its latest four-stroker, the Caliber motorcycle at its Waluj plant, in Aurangabad, early last month. Named Kawasaki Caliber, it is the largest-engined Indo-Japanese four-stroker in India.

- The first four stroke geared scooter in the world, "Legend" was developed in 36 months from the concept of production.

- "Caliber" a 111 cc four stroke motorcycle took the market by storm and "Spirit" designed in-house, a two wheeler with an innovative two speed automatic transmission was introduced in October.

- The Company apart from the introduction of two new 4 stroke vehicles has developed catalytic converters for its entire range of 2 stroke and three wheelers. Styling upgrades for Chetak, Super and Classic scooters was introduced in the market.

1999

- Bajaj auto Limited (BAL) is working on a long-term marketing strategy to re-enter the export market.

- Bajaj Auto Ltd., came out with a new scooter model Bravo.

- The Company received All India Trophy award for highest exporter in 1997-98 - New/Difficult Market-Non-SSI from Engineering Export Promotion Council.

- Export Excellence Trophy - from Mahratta Chamber of Commerce, Industries and Agriculture jointly with Joint Director General of Foreign Trade, Pune.

- The company has received National Productivity Award for Automobile Industry instituted by National Productivity Council consistently for six years from 1991-92.

2000

- Bajaj Auto decided to buy back up to 15 per cent of the paid-up share capital of the company at a maximum price of Rs. 450 per share.

- Bajaj Auto Ltd launched "India's first three speed, automatic, four stroke Scooter" `Saffire'.

- Bajaj Auto Ltd launched its indigenous, emission-friendly autorickshaw with a four-stroke compressed natural gas (CNG) engine.

- Bajaj Auto has stopped production of two-stroke three-wheelers as it has developed four-stroke autorickshaws.

- Bajaj Auto was to set up an assembling and painting plant in Italy to market its dominant brands in Europe.

- Two-wheeler major Bajaj Auto Ltd will be investing Rs 170 crore on promoting new models of scooters and motorcycles, including upgrades, launched between January 2000 and June 2001.

- Shareholders of two and three-wheelker major Bajaj Auto Ltd approved the buyback of up to 1.8 crore equity shares of Rs. 10 each at a price of Rs. 400 per share, involving a total outgo of Rs. 720 crores.

- Due to slow down in demand for scooters, the Company's plant at Akurdi has started a 5 day week from June 30 and it resumed a six-day week from September, 29 at Akurdi Plant in Maharashtra.

- The Company had offered to buy-back around 1.8 crore equity shares of Rs 10 each at a price of Rs 400/- per share.

- The Company has signed an agreement with the workers' union at Waluj on October 11.

- Bajaj Auto has entered into a tie-up with Kasanki of Brazil to set-up a two-wheeler assembly line in Brazil that will produce and sell its motorcycles for the entire South American market.

2001

- Bajaj Auto has acquired 12 lakh equity shares of Mukand Engineers (MEL) from group company Mukand Ltd, at a price of Rs 46.50, involving a total outgo of Rs 5 crore.

- Bajaj Auto launched `Kawaski Bajaj Eliminator', the country's first cruiser motorcycle.

- Bajaj Auto Ltd and Allianz AG have submitted a joint application to the Insurance Regulatory and Development Authority for joint venture in life insurance.

- Bajaj Auto Ltd has launched Saffire, the 92cc, 4-stroke engine two-wheeler, in Guwahati.

- Bajaj Auto Ltd has launched its Bajaj M-80 Major 4S with a four-stroke engine.

- Bajaj Auto Ltd will launch six new two-wheeler models, including three new motorycles, by September-end in a bid to boost sales in the current fiscal.

- The Company bought back 1,82,07,304 No. of equity shares at Rs. 400 per share on 21st October. - Bajaj Auto has launched a new voluntary retirement scheme to trim its 3000-strong junior management cadre by a staggering over 40 per cent as part of efforts to boost profitability.

- Bajaj Auto has hit a major road block with the Bombay High Court asking the company to reinstate 1,197 temporary workers who were earlier retrenched from its Waluj factory in Aurangabad.

- Allianz Bajaj Life Insurance Company, a joint venture of Pune-based scooter major Bajaj Auto and Germany's Allianz Insurance, has launched three products, with the most competitive premia among all players.

-The Insurance ventures of Allianz, one of the world's leading financial services groups and Bajaj Auto, India's leading two and three-wheeler manufacturer, announced the launch of their life and general insurance operations in Pune on October 28.

- Shareholding of foreign institutional investors (FIIs) in Bajaj Auto stands increased at 12.99 per cent as on March 31, 2001, against 10.05 per cent in the previous year.

- Bajaj Auto Ltd (BAL) is expected to reduce its employee strength by around 1,000 at lower as well as executive levels, after the completion of the recently announced voluntary retirement scheme (VRS).

2002

- Bajaj Auto is setting up a new product development and testing complex at its Akurdi plant in Pune, to consolidate its in-house research and development (R&D) capability.

-Bajaj Auto unveiled the 'Boxer AR'touting the bike's ability to "tame any terrain, no matter how challenging. The revolutionary Kawasaki technology engine (K-TEC) ensures optimum air-fuel mixture through a new intake and exhaust system. The bike also offers a mileage of 91 kilometers per litre. The bike offers the features such as opto-prism tail light, side indicators, twin pod speedo-console, stylish graphics and a striking petrol tank,

- - Shri Atul Kirloskar has resigned from the Board of Bajaj Auto Ltd and in the casual vacancy caused by his resignation, Smt Suman Kirolskar has been appointed a Director at the Board meeting held on October 23, 2002.

2003

-Bajaj Auto Ltd has informed that Shri Naresh Chandra has been appointed as an additional director at the board meeting held on January 15, 2003.

- Bajaj Auto Limited has floated an overseas office to expand its international business. The Dubai office, which was opened in Jan '03, will deal with the Middle East and African markets. The company expects Rs 325 crore exports this year as against previous year's Rs 160 crore.

- Bajaj Auto Ltd has informed the Exchange that Shri D S Mulla has resigned from the board of Bajaj Auto Limited effective from the closing hours of March 31, 2003.

- Bajaj Auto Ltd has informed that Shri D S Mulla has resigned from the Board of the company with effect from March 31, 2003.

-Launches Wind 125 bike

-Bajaj tied up with SBI for two-wheeler loans

-Bajaj moves up from number 11 to number 10 in the BS Billionaire rankings in India

-Bajaj Auto Ltd has informed that the shares of the company have been delisted from the Pune Stock Exchange Ltd (PSE) w.e.f. October 06, 2003 and Delhi Stock Exchange Association Ltd (DSE) w.e.f. December 10, 2003.

2004

-Bajaj Auto on January 15 unveiled its new corporate logo.

-Bajaj Auto enters global alliance with Kawasaki for Asean safari

-Signs MoU with Andhra Bank to finance two wheeler loans

-Ties up with Corporation Bank to finance two-wheelers of the company

-Baja Auto appoints Sanjiv Bajaj as new Executive Director

- Bajaj ties up with Orbital Engine for fuel injection systems

-Bajaj Auto Ltd (BAL) has created a network in Japan and Europe

-Bajaj Auto has unveiled its latest offering - the Bajaj 'CT 100', a four- stroke, 100 cc motorcycle

-Bajaj Auto and Bank of Maharashtra (BoM) have signed a strategic alliance to offer two-wheeler loans in India.

- Bajaj Auto ropes in popular comedian of Tamil films Vivek to promote entry level model 'Bajaj CT 100' in Chennai.

-Bajaj Auto launches CT 100 in Gujarat

-Sri Siddi Vinayaka Automobiles Ltd (SSVAL), the Hyderabad-based leading dealer of Bajaj Auto Ltd, has launched `Bajaj CT-100' motorcycle in the Andhra Pradesh market

-Bajaj rolls out 125 cc mobike

-Aptech Ltd has won an order from Bajaj Auto Ltd for its training programme

-BAL ties up with State Bank of Travancore

-Bajaj Auto launches Discover

2005

-Bajaj Auto inks agreement with Approva Corpn

- Bajaj Auto launched its automatic scooter, Wave, in the city at Varun Bajaj on June 4, 2005. Wave is aggressively priced at Rs 32,700. It is Rs 6,000 less than Honda Activa and Rs 1,000 more than the 60 cc Scooty.

-Bajaj Auto rolls out new scooter 'Wave' in Vizag

-BAL demerger with Bajaj Fin to change holding in insurance biz

2006

-Bajaj Auto Inks MoU with State Government for Greenfield Project at Chakan

-Bajaj unveils new bike Platina

-Bajaj Auto unveils CNG 3-wheelers in Indonesia.

-Bajaj Auto Ltd unveiled its first product in Indonesia, Bajaj Pulsar DTS-i (Digital Twin Spark Ignition), a 180-cc sport motorcycle on Nov 9.

2007

- Bajaj Auto unveils 4th Pulsar variant.

- European sports motorcycle manufacturer KTM Power Sports AG and Bajaj Auto Ltd, manufacturer of two and three-wheelers, have declared a wide ranging co-operation. The KTM Group will give the know-how for the joint development of water-cooled four stroke engines (125 cc and 250 cc), which provide KTM the basis for motorcycles in the new street entry segment.

2008

- Bajaj Holdings & Investment Ltd has informed that Shri. Naresh Chandra and Shri. P Murari have been appointed as additional directors of the Company, at the meeting of the Board of Directors held on October 23, 2008, with effect from October 23, 2008.

- Company name has been changed from Bajaj Auto Ltd to Bajaj Holdings & Investment Ltd.

2009

-Bajaj Holdin - Board recommended Dividend of Rs. 10 per share (100%)

2010

-Bajaj Holdings - Board recommended Dividend of Rs. 30 per share (300%)

-Bajaj Holdings picks up 12.82% stake in NMCE

2011

-Bajaj Holdin - Board recommended Dividend of Rs. 35 per share (350%)

2012

-Appointed Shri Sanjiv Bajaj as Managing Director of the Company

-Bajaj Holdin - Board recommended Dividend of Rs. 25 per share (250%)

-Ms. Vallari Gupte has been appointed as Company Secretary