MUMBAI: The prestigious 47^th Jamnalal Bajaj Foundation Awards were conferred today in Mumbai, celebrating individuals whose impactful work reflects the essence of Gandhian values and humanitarian service. Four distinguished awardees were honored at the annual ceremony in the presence of Chief Guest HH Pujya Swami Chidanand Saraswati Ji Maharaj; Shekhar Bajaj, Chairman, Board of Trustees of the Foundation; Trustee & Chairman Dr. R. A. Mashelkar & Members of the Council of Advisers of the Foundation; and an esteemed gathering. Nobel Peace Laureate Kailash Satyarthi also serves as the Trustee of the Foundation.

Since its inception, the Foundation has commemorated the birth anniversary of Shri Jamnalal Bajaj by honouring individuals who have made significant contributions to humanitarian causes and Gandhian constructive programmes. Each awardee is presented with a Citation, Trophy, and a Cash Prize in recognition of their selfless and committed efforts toward societal upliftment.

This year’s ceremony also marked a quiet moment of remembrance, being the first held in the absence of Late Shri Madhur Bajaj, Trustee of the Foundation, who passed away in April 2025. His steadfast dedication to the Foundation’s mission remains a guiding light.

In 2025, the Jamnalal Bajaj Foundation continues the commemorative enhancement introduced in 2023, where the prize amount was elevated from ₹10,00,000 to ₹20,00,000 (and its equivalent in foreign exchange for the International Award) per category. This increase, in tribute to the centennial celebration of Shri Ramkrishna Bajaj, Founder of the Foundation, reaffirms the Foundation’s enduring commitment to honouring Shri Jamnalal Bajaj’s lifelong dedication to Gandhian values and societal progress.

The details of the awards for this year (2025) are:

Shekhar Bajaj, Chairman, Board of Trustees, Jamnalal Bajaj Foundation, addressing the occasion, said, “Every year, the Jamnalal Bajaj Foundation Awards shine a light on extraordinary individuals whose selfless work brings Gandhian values to life in today’s world. This year’s recipients have not only transformed communities but also inspired a deeper commitment to compassion and constructive action. As we celebrate their achievements, we also take a moment to remember Late Shri Madhur Bajaj, whose quiet leadership and deep belief in the Foundation’s purpose remain an integral part of its journey forward. May these stories encourage many more to walk the path of service and social change.”

Dr. R. A. Mashelkar, Chairman of the Council of Advisers, stated, “Our awardees are our modern-day satyagrahis — warriors of conscience who fight with compassion, not confrontation. Each of them has proved that one determined heart can bring light where there was darkness, hope where there was despair. The awardees we honour today are living embodiments of Gandhian resilience, truth, and non-violence. Their work transcends boundaries and generations, proving that the principles of Shri Jamnalalji and Gandhiji remain timeless and transformative. Their dedication not only uplifts communities but also reaffirms our belief in the power of ethical leadership and unity in action.”

Minal Bajaj, Trustee & Hon. Director, Jamnalal Bajaj Foundation, stated, “Mahatma Gandhi had said about Shri Jamnalal Bajaj, who was adopted as his 5^th son, that ‘he did not earn a single rupee through unethical means and whatever he earned, he spent it all for the good of the people.” Rather than an owner, he remained a trustee of his wealth. If one goes through the life of Shri Jamnalal Bajaj, one will recognize the tremendous influence that he had on Gandhiji. Jamanlal ji inspired his whole family to imbibe the Gandhian way of life. Our Awards purely serve these ideals. The Foundation leaves no stone unturned to reach the furthest corners of our country and the globe to identify the hidden gems, and they range from those who have transformed the lives of a small community to those who have dared to change the course of history of a nation. Our mission remains steadfast—to celebrate individuals and their selfless dedication.”

About the 2025 Winners

Hasmukh Babubhai Patel
Recipients of the Award for Constructive Work

A lifelong Gandhian and rural development activist, Hasmukh Patel has dedicated over four decades to transforming the lives of marginalized communities in Gujarat. From Khadi promotion to tribal empowerment, his work reflects a deep commitment to self-reliance, peace, and sustainable development.

• Left home at 20 to dedicate his life to social upliftment, inspired by Gandhian and Sarvodaya leaders.
• Played a key role in the Narmada rehabilitation movement under Gandhian leadership.
• Founded Samvedana Sarvodaya Kendra, working across 450 villages in Vav-Tharad-Amirgarh.
• Helped reduce the average childbirth rate from 12 to a sustainable level through family planning awareness.
• Freed over 4,000 individuals from alcohol addiction, saving ₹70 lakh annually in the region.
• Curbed violent tribal customs like “Chadotaru” through peacebuilding and community engagement.
• Built 125 check dams and brought 6,000 hectares under irrigation, boosting tribal incomes.
• Enabled 1,000 rural women to gain self-employment through SHGs and handicraft training.
• Led disaster relief during the Kutch earthquake without government aid, relying on donors.
• Provided free education, meals, and healthcare to thousands of underprivileged children and patients.

P. M. Murugesan

Recipient of the Award for Application of Science and Technology for Rural Development

A farmer-turned-innovator from Tamil Nadu, P. M. Murugesan, transformed agricultural waste into a thriving rural enterprise. The banana fiber innovations introduced by him have empowered thousands of women and promoted sustainable livelihoods across India.

• Developed machines to extract and process banana fiber from waste stems, replacing harmful burning practices.
• Founded Om Banana Craft Pvt. Ltd., producing eco-friendly products like baskets, mats, and bags.
• Created rope twining and length-counting machines, tripling productivity and reducing manual labor.
• Employed 300 women locally and trained 3,500 women across 9 states in banana fiber craft.
• Provided skill training, insurance, and PF benefits to marginalized women workers.
• Helped banana farmers earn additional income by purchasing waste banana stems.
• Exported products internationally through various channels.
• Promoted sustainable waste-to-wealth models in rural communities.
• Inspired rural youth to pursue entrepreneurship through innovation and self-reliance.

Triveni Acharya
Recipient of the Award for Development and Welfare of Women and Children

A fearless anti-trafficking crusader, Triveni Acharya, has rescued and rehabilitated thousands of trafficked women and children through her organization, Rescue Foundation. Her work exemplifies courage, compassion, and commitment to justice.

• Transitioned from journalism to full-time activism after uncovering human trafficking networks.
• Founded the Rescue Foundation in 2000, operating four rescue homes across India.
• Rescued over 7,000 women and girls; provided shelter and care to more than 11,000 survivors.
• Led 460 rescue operations since 2019, resulting in 2,041 rescues and 404 trafficker arrests.
• Offers comprehensive rehabilitation: health care, trauma counselling, legal aid, and education.
• Runs Project Ekatra, empowering survivors to become peer mentors and leaders.
• Collaborates with police, embassies, and NGOs for cross-border rescues and repatriation.
• Provides vocational training in tailoring, yoga, crafts, and more to support survivors’ livelihoods.
• Focuses on holistic survivor empowerment through education and skill-building.
• Advocates for systemic change and awareness to combat trafficking at national and international levels.

Sekacheva Lyudmila Leonidovna

Recipient of the International Award for Promoting Gandhian Values Outside India

A cultural diplomat and educator from Russia, Lyudmila Sekacheva has spent over two decades promoting the philosophies of Mahatma Gandhi and Leo Tolstoy across BRICS nations, fostering peace, nonviolence, and intercultural harmony. 

• Founded BRICS. World of Traditions to promote Gandhian and Tolstoyan values across the BRICS countries.
• Organized over 200 projects supporting orphans, veterans, and marginalized communities.
• Led the international exhibition “Leo Tolstoy and Mahatma Gandhi: A Unique Heritage” across five countries.
• Created the Great BRICS Teachers Project to honor global humanists and moral leaders.
• Launched BRICS People Choosing Life, reaching over 10,000 participants with cultural-educational programs.
• Established eight educational centers promoting Gandhian and Tolstoyan values in schools and colleges.
• Plans to open new centers in Brazil, Iran, Egypt, and South Africa.
• Initiated the Message to the World of BRICS People, signed by thousands of youth for peace and harmony.
• Advocates for including the “Law of Love” in national constitutions, inspired by Gandhi’s teachings.
• Promotes public diplomacy and moral education as tools for global peace and understanding.

The Man behind the Awards – Jamnalal Bajaj was among the stalwarts who gave of himself completely – mind, body, and soul to India’s freedom movement. He overreached himself in making words into deeds and in implementing the Constructive Programme of Mahatma Gandhi, be it Khadi, Dalit-welfare, women’s emancipation, ethics in business, or preservation of cattle wealth through Goseva. So much so that Mahatma Gandhi adopted him as his fifth son and was the alter ego of the Mahatma in the Gandhian Constructive Movement. His second son, Ramkrishna Bajaj, carried this legacy through his ethical leadership in business and philanthropy and set up the Jamnalal Bajaj Foundation to fulfil his father’s ideals.

About The Jamnalal Bajaj Awards – To promote and propagate Jamnalal Bajaj’s philanthropic vision as well as Gandhian ideology of rural development, the Jamnalal Bajaj Foundation instituted four Awards, which have come to be regarded as the most coveted in respective fields.

The four prime categories of the Jamnalal Bajaj Awards include three National Awards and one International Award:

1. Award for Constructive Work (instituted in 1978) – It recognizes the substantial constructive work focusing on Mahatma Gandhi’s eighteen constructive programmes to create a self-reliant community.
2. Award for Application of Science and Technology for Rural Development (instituted in 1978) – It recognizes the substantial contribution in the field of application of science and technology that are relevant, accessible, and affordable to the weaker sections of the society and which have created an impact on rural and tribal development.
3. Award for Development & Welfare of Women and Children (instituted in 1980 in honour of Padma Vibhushan Smt. Jankidevi Bajaj) (award is exclusively for women) – It recognizes the substantial contributions towards development and welfare of women and children, focusing on areas like education, skills training, healthcare, literacy, livelihood activities, holistic development, advocacy, etc.
4. International Award for Promoting Gandhian Values Outside India (instituted in 1988 to commemorate the birth centennial of Shri Jamnalal Bajaj) – It recognizes the outstanding work of foreign individuals in proliferating Gandhiji’s vision in areas like non-violence, peace, harmony, brotherhood, and moral conscience.

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MUMBAI: The Jamnalal Bajaj Foundation honored winners for their exemplary efforts in the field of humanitarian and social work at the 46th edition of the Jamnalal Bajaj Awards. The four awardees were felicitated today at the annual award function in the presence of the Chief Guest Dr. Abhay Bang, Founder & Director, Society for Education, Action and Research in Community Health (SEARCH), Shekhar Bajaj, Chairman, Board of Trustees of Jamnalal Bajaj Foundation, Members of the Council of Advisers of the Foundation and the august gathering. Nobel Peace Laureate Kailash Satyarthi is the Trustee of the Foundation and Dr. R. A. Mashelkar, Former Director General, of the Council of Scientific and Industrial Research and chairman of the National Innovation Foundation also serves as a Chairman, of the Council of Advisers of the Foundation.

Since the institution of these awards, the Foundation commemorates the birth anniversary of Shri Jamnalal Bajaj every year. As a tribute to the great man on this special occasion, the Foundation felicitated achievers in the field of humanitarian activities and Gandhian constructive programs by presenting them with a Citation, a Trophy, and a Cash Prize.

In tribute to the centennial celebration of Shri Ramkrishna Bajaj, Founder of the Jamnalal Bajaj Foundation, the prize money was raised in 2023 from Rs. 10,00,000/- to Rs. 20,00,000/- (or its equivalent in foreign exchange for the International Award) per category. This commemorative increase continues in 2024 as the Foundation honors                     Shri Jamnalal Bajaj’s lifelong commitment to Gandhian values and societal advancement.

The details of the awards for this year (2024) are:

Shekhar Bajaj, Chairman, Board of Trustees, Jamnalal Bajaj Foundation addressing the occasion said, “Each year, the Jamnalal Bajaj Foundation Awards illuminate the incredible stories of individuals who, through their selfless service, carry forward Gandhian values into modern society. Congratulations to all the recipients; your dedication transforms communities and exemplifies the enduring power of Shri Jamnalal Bajaj’s ideals and Mahatma Gandhi’s constructive work programs. We invite others to be inspired by your work and to join in building a more compassionate world.”

Dr. R. A. Mashelkar, Chairman, of the Council of Advisers stated, “Our awardees exemplify resilience and devotion in preserving and advancing Gandhian principles, which remain as relevant today as ever. We honor not only their remarkable achievements but also the unwavering dedication with which they pursue their work. These individuals embody the timeless values of truth, non-violence, and unity, creating a better world for all. Their contributions remind us that Shri Jamnalalji’s and Gandhiji’s ideals are not bound by time, but continue to inspire a meaningful change.”

The Winners

Girija Nandan
Recipients of the Award for Constructive Work

Girija Nandan, recipient of the 2024 Award for Constructive Work, has dedicated his life to advancing Gandhian ideals in Bihar and Jharkhand through transformative social programs. Born in a small village, he was moved by the hardships of the rural poor, motivating him to set up Nav Bharat Jagriti Kendra (NBJK) in 1971, which has since become a beacon of community service and empowerment across the region. His efforts have created lasting change through initiatives in education, healthcare, women’s empowerment, and advocacy for social justice.

• Grew up in Bataspur, Bihar, and was deeply impacted by early exposure to poverty and health challenges in the villages.
• Inspired by Gandhian ideals and motivated by his work with Vinoba Bhave’s Samanwaya Ashram during his youth.
• Joined Jayprakash Narayan’s relief efforts during famines in Odisha and Bihar, which strengthened his commitment to social justice.
• Co-founded Nav Bharat Jagriti Kendra (NBJK) in 1971 to address social issues in Bihar and Jharkhand.
• Supported NBJK financially in its early years by working as an engineer, and donating his salary.
• Actively engaged in Lok Samiti, a people’s organization started by Jayprakash Narayan, empowering communities to demand rights and local governance.
• Established six high schools and two primary schools, providing quality education to over 5,000 children annually, with a focus on girls.
• Set up Lok Nayak Jaiprakash Eye Hospitals, performing over 2,00,000 cataract surgeries and serving 5,00,000 outpatients in Bihar and Jharkhand.
• Organized 537 Self-Help Groups (SHGs) for Persons with Disabilities (PwDs), promoting financial inclusion for 3,598 PwDs.
• Led organized efforts to provide medical treatment for over 6,000 individuals with mental disorders, challenging superstitions.
• Established micro-credit programs for women, supporting 900 SHGs, enabling 10,000 women to engage in income-generating activities.
• Trained over 30,000 unemployed youth in vocational skills, resulting in job placements for approximately 60%.
• Spearheaded WASH programs in Jharkhand, benefiting 50,000 households, and improving sanitation, waste collection, and recycling.
• Advocated for labor rights, and led campaigns like the Right to Work, grassroots democracy, and the Manav Jodo Abhiyan for inter-caste harmony.
• Inspired and supported over 100 voluntary organizations in Bihar and Jharkhand, creating a legacy of social service and empowerment.

“In our work, we have learned that instead of applying a one-size-fits-all development model across the country or a state, it would be more effective to provide assistance tailored to the needs of individuals or families, resulting in greater achievements with lower costs.

Despite economic prosperity, if a person is not virtuous, peace and happiness cannot prevail in their life or in society. Therefore, while continuing with the current developmental work, we want to strive towards prohibition and building a morally upright society.

This award inspires us to make even greater efforts to become the voice of those standing on the margins of society and bring more improvement to their lives.” Girija Nandan

Rashmi Bharti
Recipient of the Award for Application of Science and Technology for Rural Development

Rashmi Bharti, co-founder of Avani Society and a visionary in rural development, has spent over three decades creating sustainable livelihoods, empowering local communities, and preserving traditional crafts in Uttarakhand and Odisha. With her focus on eco-friendly practices, Rashmi Bharti has pioneered initiatives in renewable energy, natural dyes, and rural enterprise, transforming remote villages and providing self-reliant income avenues for over 2,000 artisans. Her dedication to sustainable rural development exemplifies her belief in local action for global impact.

• Rashmi Bharti, along with her husband, Rajnish Jain, founded Avani in the Himalayas, focusing on sustainable rural development in Uttarakhand.
• Led the installation of 3,000 solar lights across 25 remote villages, bringing renewable energy access to underserved communities.
• Revived hand spinning and weaving with Tibetan sheep wool, which now empowers 2,200 artisans across 64 villages.
• Generated Rs. 6 crores in income for local communities through Avani, benefiting youth, artisans, and rural families.
• Founded the Kumaon Earthcraft Self-Reliant Cooperative in 2005, which provides decentralized work opportunities to women and school dropouts in remote villages.
• Created the AVANI brand, offering high-quality, naturally dyed handloom textiles and eco-friendly products that emphasize fair trade and zero waste.
• Introduced natural dyes to reduce soil and water pollution, using local plant materials like myrobalan, marigold, and walnut.
• Addressed environmental harm caused by synthetic dyes, focusing on sustainable practices to protect the fragile Himalayan ecosystem.
• Utilized the invasive eupatorium plant as a natural dye source, linking economic benefits with environmental conservation.
• Provided training to rural men and women in natural dyeing techniques, which are applied across textiles, art supplies, and eco-friendly paints.
• Advocated for small farmers nationwide to cultivate natural dyes, promoting sustainable income and contributing to climate resilience.
• Named a runner-up for the St Andrews Prize for Environment in 2022 for her groundbreaking work with natural dyes.
• Showcased Avani’s eco-friendly products at events like the Ethical Fashion Show in Paris and the Ethical Fashion Forum in London.
• Linked rural farmers with global environmental impact by integrating climate-conscious practices into traditional agriculture.
• Lives by the philosophy of “leaving the Earth a little more beautiful than we found it,” inspiring others toward sustainable and meaningful change.

“The challenges were many – of changing mindsets, of being accepted by the community and to set up an initiative that would last beyond our lifetime. It was a slow progression built on dialogue, inclusiveness, and compassion. Learning was mutual and respectful of the traditional knowledge systems. It allowed us to have a friendship with the community not as beneficiaries but as people living in the same ecosystem. The fact that we were living in the village helped establish trust, but it took time. The love and acceptance we have received from village communities is what has kept us going. The honesty of intention brought us grace and a large network of friends and well-wishers both in India and worldwide for which we are forever grateful.

Each of us is a magnet for things to happen. Our intention, action, passion, and perseverance allow existence to conspire to support us in every way.” Rashmi Bharti

Dr. Tulasi Munda
Recipient of the Award for Development and Welfare of Women and Children

Dr. Tulasi Munda, known as “Tulasi Apa,” has dedicated her life to the upliftment of tribal communities in Odisha. As the founder and secretary of Adivasi Vikash Samity, she has passionately pursued education and social reform for over six decades, bringing transformative change to the lives of marginalized people in the mining regions of Odisha.

• Established AVS to support tribal development and provide education to underserved communities.
• Despite being illiterate herself, she began educating others at a young age, eventually teaching over 20,000 children in Odisha.
• Taught herself to read and write while working in difficult conditions, earning Rs. 2 a week by cutting stones.
• Set up a school in Serenda that has grown into a full-fledged high school with over 776 students, including 600 boarders.
• Established 20 satellite schools and two main schools with over 1,000 students in remote tribal areas.
• Established community education centers and balwadis to serve various age groups, encouraging literacy and learning.
• Committed to eradicating illiteracy, which she saw as the root cause of poverty, superstition, and social evils.
• Began with no formal venue or support, teaching basic literacy to children on the veranda of the village Pradhan’s house.
• Promoted Gandhian principles of self-governance and Gram Swaraj, creating Gram Sabhas to drive local development.
• Mahila Mandals for women’s self-sufficiency and youth clubs for empowerment in village communities.
• Known for her mediation skills, she resolved conflicts between mining companies and laborers, using Gandhian methods.
• Honored for her work and appointed to various philanthropic boards across Odisha.
• Supported her schools through donations, staying committed to keeping education accessible to the poorest.
• At 86, continues to advocate for tribal welfare and dreams of rebirth to further her mission of education and empowerment.

“During the one-year-long Bharat Yatra of Santh Vinoba Bhave for the Bhoodan Movement, I was nominated to accompany him. This has changed my outlook, way of life, and service orientation.

With training and orientation, I was then told to run community development services with community participation. With active support and cooperation, I could form more than 300 Gram Sabha and resolve numerous issues.

Finding mines area children unattended by parents for education, I started non-formal education centered and later established several schools. In the last 50 years, more than 30,000 students have been passed out from my schools and many of them are employed in different sectors. Similarly, there are several success stories in other sectors too.”

Tulasi Munda

Reverend Erik Kumedisa

Recipient of the International Award for Promoting Gandhian Values Outside India

Erik Kumedisa, an academic and pastor, has dedicated his life to promoting peace and Gandhian principles in the Democratic Republic of Congo. As the founder of the Gandhi Monks Community, he has inspired countless individuals through education, non-violent advocacy, and community initiatives aimed at creating a culture of self-sufficiency and non-violence. 

• Established in 2008, this association promotes Gandhian principles of non-violence in Congo.
• Holds a Diploma of Advanced Studies in Protestant Theology, specializing in the phenomenology of religions, with additional certifications in peace sciences and conflict resolution.
• Inspired by Gandhi’s philosophy of Satyagraha and non-violence, leading him to study and promote these ideals within his community.
• Embraces a life aligned with Gandhian non-violence, committing to peaceful living through the Gandhi Monks, who focus on non-violence while remaining engaged in society.
• Worked in fields alongside fellow Gandhi Monks, promoting self-sufficiency through agriculture, poultry, and small livestock farming.
• Established the Gandhi Science and Peace Institute (IGSP) in Kikwit, which offers courses on rural economy, peace education, and inter-religious theology.
• Oversees the publication and free distribution of materials on Gandhi’s message, promoting non-violence and awareness.
• Initiated a community FM radio station to broadcast the principles of non-violence and self-sufficiency.
• Provides skills training to promote self-sufficiency, echoing Gandhi’s Swadeshi philosophy.
• Speaks regularly at conferences and universities, both nationally and internationally, on topics of peace and Gandhian philosophy.
• Serves as a cultural consultant for events like World Yoga Day and Gandhi Jayanti at the Indian Embassy in Kinshasa.
• Awarded the “Bridge Teacher” title in 1993 for fostering understanding between Banyarwanda and indigenous tribes in eastern Congo.
• Recognized with a prize of merit by a civic education organization for developing educational materials on democratic culture.
• Awarded the Best Writer-Editor prize in 2003 for contributions to documenting Mennonite and Christian Brotherhood history in French-speaking Africa.
• Advocates for a self-sustained mindset within communities, striving to reduce dependency and encourage self-sufficiency for societal betterment.

“Since the Constitutive Act of the Gandhi Monks; I have been fighting on all fronts of life to bring about a Satyagraha Society. Very often I organize training for peasant farmers where new ideas are given to learn how to be self-sufficient (SWADESHI), to fertilize the land, and to improve their breeding. In addition to theoretical courses, the participants carry out practical work. The skeptics now believe and recognize the usefulness of putting the principles of Gandhian doctrine into practice. The most important thing we do is to see that everything people learn; they do at home. Although this does not provide all the solutions to the problems in their lives, it allows some to improve their daily lives.” Rev. Erik Kumedisa

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Highlighting the importance of the occasion as part of activities for the ‘Year of Naval Civilians,’ Vice Admiral Sanjay Bhalla, Chief of Personnel, appreciated the life insurance solutions offered by Bajaj Allianz Life, which have been specifically tailored to meet the needs of Indian Navy civilians.

Tarun Chugh, MD & CEO, of Bajaj Allianz Life Insurance, said, “It is indeed a proud moment for all of us at Bajaj Allianz Life, to have an opportunity to offer life insurance services to the Indian Navy Civilians. In line with the Indian Navy’s 2024 – Year of Naval Civilians – we will commence our operations for the Naval Civilians. I believe it will also be a huge step towards taking the benefits of life insurance to many more Indians and taking critical steps towards bridging the insurance penetration gap within our country. We will ensure we deliver only the most effective and seamless solutions to the Indian Navy.”

Bajaj Allianz Life’s offerings under this partnership include a range of life insurance solutions to meet the varied life goals of the civilians associated with the Indian Navy. Educational seminars and sessions will be conducted to help Indian Navy civilian personnel understand the importance of term insurance and adequate life insurance coverage to secure their life goals. The Company will also introduce unique processes catering specifically to the unique needs of naval civilians.

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MUMBAI: The Bid/Offer Period in respect of the initial public offering of Equity Shares of Bajaj Housing Finance Limited (“BHFL” or the “Company”, and such offering, the “Offer”), shall commence on Monday, September 09, 2024.

The total Offer Size is such number of Equity Shares (face value ₹ 10 each) aggregating up to ₹ 6,560 crores, comprising a Fresh Issue of such number of Equity Shares aggregating up to ₹ 3,560 crore and an Offer for Sale of a such number of Equity Shares aggregating up to ₹ 3,000 crore.

The Anchor Investor Bidding Date shall be on Friday, September 06, 2024and the Bid / Offer Closing Date will be Wednesday, September 11, 2024.

The Price band of the Offer is ₹ 66 to ₹ 70 per Equity Share.

Bids can be made for a minimum of 214 Equity Shares and in multiples of 214 Equity Shares thereafter.

For subscription by Employee, the reservation portion includes Equity Shares aggregating up to ₹200 crores and for shareholders of Bajaj Finance Limited and Bajaj Finserv Limited, the reservation portion includes Equity Shares aggregating up to ₹ 500 crores.

The Company intends to utilize the Net Proceeds of the Offer towards augmenting its capital base to meet future business requirements of the Company towards onward lending.

The Offer for Sale of Equity Shares comprises such number of Equity Shares aggregating up to ₹ 3,000 crore by Bajaj Finance Limited (the “Promoter Selling Shareholder”).

These Equity Shares are being offered through the red herring prospectus of the Company dated August 30, 2024, read with the addendum to the red herring prospectus dated September 2, 2024 (the “Addendum”, and together with the red herring prospectus, the “Red Herring Prospectus”) filed with the Registrar of Companies, Maharashtra at Pune (“ROC”), and subsequently with the SEBI and the Stock Exchanges (as defined below).

The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”). For the Offer, NSE is the Designated Stock Exchange.

Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited and IIFL Securities Limited are the Book Running Lead Managers to the Offer (“BRLMs”).

This Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process by Regulation 6(1) of the SEBI ICDR Regulations wherein in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”) provided that the Company, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis by the SEBI ICDR Regulations (“Anchor Investor Portion”), of which at least one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders out of which (a) one-third of such portion shall be reserved for applicants with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-third of such portion shall be reserved for applicants with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Bidders and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders (“RIBs”) by the SEBI ICDR Regulations, subject to valid Bids being received from them at or above the Offer Price. All potential Bidders (except Anchor Investors) are required to mandatorily utilize the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts (including UPI ID for UPI Bidders using UPI Mechanism) (as defined hereinafter) in which the Bid amount will be blocked by the SCSBs or the Sponsor Banks, as applicable, to participate in the Offer. Anchor Investors are not permitted to participate in the Anchor Investor Portion of the Offer through the ASBA process.

Further, such number of Equity Shares aggregating up to ₹200 crore will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. Furthermore, up to such number of Equity Shares, aggregating up to ₹500 crore shall be made available for allocation on a proportionate basis only to Eligible Shareholders bidding in the Shareholders Reservation Portion, subject to valid Bids being received at or above the Offer Price. Eligible Shareholders Bidding in the Shareholders Reservation Portion can Bid up to a maximum Bid Amount of ₹200,000. Further, Eligible Shareholders Bidding in the Shareholders Reservation Portion can also Bid in the Retail Portion or Non-Institutional Portion and Employee Reservation Portion (if eligible and subject to applicable limits), and such Bids will not be treated as multiple Bids. For details, see “Offer Procedure” on page 502 of the Red Herring Prospectus and the Addendum to the Red Herring Prospectus dated September 2, 2024.

DISCLAIMER:

Bajaj Housing Finance Limited is proposing, subject to receipt of requisite approvals, market conditions, and other considerations, an initial public offering of its equity shares and has filed a red herring prospectus dated August 30, 2024, read with the addendum to the Red Herring Prospectus dated September 2, 2024 (together, the “Red Herring Prospectus”) with the Registrar of Companies, Maharashtra at Pune. The Red Herring Prospectus and the Addendum to the Red Herring Prospectus are available on the website of the Company, at www.bajajhousingfinance.in, the website of SEBI at www.sebi.gov.in, the websites of the Book Running Lead Managers, Kotak Mahindra Capital Company Limited at https://investmentbank.kotak.com, BofA Securities India Limited at https://business.bofa.com/bofas-india, Axis Capital Limited at www.axiscapital.co.in, Goldman Sachs (India) Securities Private Limited at www.goldmansachs.com, SBI Capital Markets Limited at www.sbicaps.com, JM Financial Limited at www.jmfl.com, and IIFL Securities Limited at www.iiflcap.com, and the websites of BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details refer to the Red Herring Prospectus, including the section titled “Risk Factors” on page 36 of the Red Herring Prospectus.

These materials are not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States, and the District of Columbia). These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The Equity Shares mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “Securities Act”).

The Equity Shares may not be offered or sold in the United States except under an exemption from, or in transactions not subject to, the registration requirements of the Securities Act. There will be no public offer of securities in the United States.

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MUMBAI: Bajaj Housing Finance launched Sambhav Home Loans today – a product to provide affordable and accessible housing finance.

The all-new Home Loan product is designed for first-time homebuyers looking to make their dream of home ownership a reality through affordable housing finance. In line with this, the income norm on Sambhav Home Loans starts from only Rs. 10,000 per month, with loan amounts as low as Rs. 10 Lakh. The affordable income criterion makes this an accessible option for prospective borrowers across a wide range of income groups.

Both salaried and self-employed applicants from a range of employment types, such as manufacturing, trading, and the informal job sector, among others, are eligible for finance as part of this product. Subsequently, the eligibility, documentation, and application process for Sambhav Home Loans have been kept flexible to accommodate all such employment types.

Apart from minimal eligibility requirements, Sambhav Home Loans offer a host of benefits. Borrowers enjoy attractive interest rates with affordable EMIs and the option to choose a repayment tenor of up to 20 years. Eligible borrowers also benefit from a sizeable loan amount, which makes homeownership more convenient.

With the launch of Sambhav Home Loans, Bajaj Housing Finance now offers a full suite of offerings in housing finance, covering all customer categories. With over 6,000 approved projects, the Lender offers custom mortgage solutions across India. Interested applicants can either apply online through the Lender’s website or walk into any of its branches.

* Salary norms and minimum loan amount are subject to change based on city | T&C apply

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Commenting on the campaign launch, Chandramohan Mehra, Chief Marketing Officer, Bajaj Allianz Life, said, “Simplifying by de-jargonizing is one of the potent solutions to overcome the perceived complexity coupled with high customer inertia, a key challenge faced by the insurance industry.  Lack of knowledge has been one of the key barriers resulting in India’s high protection gap at 87%.  Our underinsurance educational initiative equips customers with the right advice to make sound decisions, keeping in mind the long-term protection needs of the family.  Anchored on a thumb rule of 10x, we are confident that the initiative will aid easy comprehension and induce appropriate actionability.”

Through a series of captivating films, Bajaj Allianz Life highlights the importance of the 10X life cover guideline.

To maximize its impact, Bajaj Allianz Life has launched a 360-degree marketing campaign, spanning television, print, outdoor, digital, and extensive use of fininfluencers. The message will be amplified through social media outreach as well. As the nation gears up for the T20 World Cup, Bajaj Allianz Life’s campaign will be showcased there, driving home the importance of adequate insurance coverage.

Video Link – https://youtu.be/Gj-d5-gV7Ho

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PUNE: Bajaj Allianz Life Insurance, one of India’s leading private life insurers, has demonstrated its unwavering commitment to policyholders with a Claim Settlement Ratio of 99.23% for the fiscal year 2023-24. This figure underscores the Company’s dedication to providing prompt and reliable support during the toughest times a nominee faces and ensuring all policyholders that the Company will continue to stand by their family and keep their Life Goals on track. The Claim Settlement Ratio is a crucial metric that gives customers a sense of how an insurance company honors its policyholders’ claims.

“To stay true to our promise of Customer First, Bajaj Allianz Life has continuously invested towards enhancing processes and empowering its people. Our moment of truth on these investments is when our policyholder’s family member comes forth for a claim. Our latest Claim Settlement Ratio reflects that we are moving ahead in the right direction. Our focus will remain on further enhancing these experiences, leverage new-age tech and innovations to remain our policyholders’ most trusted Life Goals enabler”, said, Tarun Chugh, MD & CEO, Bajaj Allianz Life.

Bajaj Allianz Life has displayed sustained growth over the years, and while their investments in processes have helped business grow it has also helped the Company settle claims faster. The Company has consistently enhanced its claims settlements through various efforts assistance by experts to family members who can educate and assist them throughout the process, continuous communications with the claimants to keep them updated on the status of their claims, and so on.

Bajaj Allianz Life continues to keep its promise to customers, and it is reflected through a few milestones. For the period FY 2006 to FY2024, Bajaj Allianz Life settled over 2.8 lakh individual claims, amounting to a total payout exceeding INR. 6400 crores. Another key parameter reflecting the strength of a life insurance company is the rating provided by third-party experts. Bajaj Allianz Life has enjoyed a AAA Stable Rating awarded by CARE for four consecutive years now which underlines the Company’s strong performance across various business metrics and strengthens its position as the preferred life goals enabler.

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• NFO opens on 6th February 2024, and closes on 20th February 2024
• The Benchmark Index of the fund is Nifty Large Midcap 250 TRI

PUNE: Bajaj Finserv Asset Management has announced the launch of a new equity fund ‘Bajaj Finserv Large and Mid Cap Fund’, strategically designed to grow investors’ wealth through ‘Moat Investing’. The fund is an open-ended equity scheme that targets investment in both large-cap and mid-cap stocks, emphasizing the concept of economic moats to ensure long-term sustainability and profitability. The new fund offer will open for initial subscription on 6th February, and close on 20th February 2024.

The fund will be jointly managed by Mr. Nimesh Chandan and Mr. Sorbh Gupta on the Equity side and Siddharth Chaudhary on the Debt side.

Bajaj Finserv Large and Mid Cap Fund use a unique concept of ‘Economic Moat’ in deciding the asset allocation strategies. An economic moat in investing is like a shield that protects a company’s profits from various future challenges in the business world. This strategy identifies businesses with rapid growth potential, profit, and a sustained competitive edge.

In the current market scenario, both large-caps and a combination of large and mid-caps are trading below long-term averages, creating a favorable risk-reward scenario, especially when compared to the Nifty 500 Index. The strategic emphasis on economic moats in large and mid-cap stocks is derived from their stability amid market fluctuations and potential for long-term growth. This aligns with Bajaj Finserv AMC’s commitment to delivering lasting value to its investors. Following its investment philosophy, InQuBE, the investment process integrates quantitative attributes, such as Return on Incremental Capital (ROIC) and sustained margins, along with qualitative criteria like pricing power and management quality, ensuring superior information collection and prudent decision-making for market outperformance.

Speaking on the launch of the product, Ganesh Mohan, CEO, of Bajaj Finserv Asset Management, said “This new offering is a testament to our strategic vision and deep understanding of market dynamics. We are capitalizing on the growth potential inherent in both large-size companies and agile midcap enterprises. This approach allows investors to benefit from the relative stability of established giants and the agility of rising stars.

Our team of seasoned professionals has meticulously curated a portfolio designed to weather market fluctuations and seize growth opportunities built on the unique concept of Moat Investing. In this strategy, our team focuses not only on market leaders but those companies that can defend their leadership position.”

Nimesh Chandan, CIO, of Bajaj Finserv Asset Management, highlighted “Large and Mid cap is a category which has many companies with leadership in their businesses. The key characteristic of this fund is stock selection based on Moat’s Investing strategy. It is a strategy that identifies companies with a competitive advantage which helps them defend their leadership and strong business metrics, resulting in long-term value creation. We endeavor to identify robust businesses across sectors based on bottom analysis of companies and hence create a diversified portfolio for our investors. We believe that Moat Investing is a robust framework to identify strong business models that have the potential to create long-term wealth“.

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