India’s second largest two-wheeler manufacturing company, Bajaj Auto Limited on Monday has informed the stock exchanges, that the company has picked up 14.5 per cent stake in KTM Power Sports an European Sports bike maker. The total investment is valued at around Rs 300 crore.
Bajaj Auto Limited stake purchase in KTM will see both the companies jointly develop and manufacuture engines and will enable them to share dealer network.
“Bajaj Auto has acquired 14.5 per cent stake in KTM and thus becomes the second largest shareholder in the company after its promoters. This is our first step toward going global,” BAL general manager (marketing) Amit Nandi told PTI.
Shares of Bajaj Auto Limited closed today at Rs. 2394.9 down 1.18% on the BSE.
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