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C M Y K
DRAFT LETTER OF OFFER
November 22, 2012
For the Eligible Equity Shareholders
of the Company only
LENDING
BAJAJ FINANCE LIMITED
Bajaj Finance Limited, (the “Company”), was originally incorporated as Bajaj Auto Finance Private Limited pursuant to a certificate
of incorporation dated March 25, 1987 issued by the Registrar of Companies, Maharashtra as a private company limited by shares
under the provisions of the Companies Act, 1956, as amended. Our Company has been allotted a Corporate Identification Number,
L65910MH1987PLC042961, under the Companies Act, 1956. The registered office of our Company is located at Akurdi, Pune - 411 035. The
th
corporate office of our Company is located at 4 Floor, Bajaj Finserv Corporate Office Off Pune -Ahmednagar Road, Viman Nagar, Pune - 411
014. Company Secretary and Compliance Officer: A H Damle; Tel No: +91 20 3040 5072; Fax No: +91 20 3040 5030; E-mail: anant.
damle@bajajfinserv.in; Website: www.bajajfinservlending.in
THE PROMOTERS OF OUR COMPANY ARE BAJAJ FINSERV LIMITED, RAHULKUMAR KAMALNAYAN BAJAJ AND
MADHURKUMAR RAMKRISHNAJI BAJAJ
FOR PRIVATE CIRCULATION TO THE ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY ONLY
DRAFT LETTER OF OFFER
ISSUE OF [●] EQUITY SHARES OF FACE VALUE ` 10/- EACH (“RIGHTS SHARES”) FOR CASH AT A PREMIUM OF ` [●]
PER RIGHTS SHARE AGGREGATING TO AN AMOUNT UPTO ` 750.00 CRORES BY BAJAJ FINANCE LIMITED (THE
“COMPANY” OR THE “ISSUER”) TO THE ELIGIBLE EQUITY SHAREHOLDERS OF OUR COMPANY ON A RIGHTS
BASIS IN THE RATIO OF [●] RIGHTS SHARES FOR EVERY [●] EQUITY SHARES HELD ON THE RECORD DATE, I.E. [●]
(THE “ISSUE”). THE ISSUE PRICE OF EACH RIGHTS SHARE IS [●] TIMES THE FACE VALUE OF THE RIGHTS SHARE.
GENERAL RISKS
Investments in equity and equity related securities involve a degree of risk and investors should not invest any funds in this Issue unless
they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment
decision in relation to this Issue. For taking an investment decision, investors must rely on their own examination of the Issuer and the
Issue including the risks involved. The securities have not been recommended or approved by the Securities and Exchange Board of India,
(“SEBI”), nor does SEBI guarantee the accuracy or adequacy of this document. Investors are advised to refer to the section titled “Risk
Factors” from pages 8 to 24 of this Draft Letter of Offer before making an investment in this Issue.
ISSUER’S ABSOLUTE RESPONSIBILITY
The Issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this Draft Letter of Offer contains all
information with regard to the Issuer and the Issue, which is material in the context of this Issue, that the information contained in this
Draft Letter of Offer is true and correct in all material aspects and is not misleading in any material respect, that the opinions and intentions
expressed herein are honestly held and that there are no other facts, the omission of which makes this Draft Letter of Offer as a whole or
any such information or the expression of any such opinions or intentions misleading in any material respect.
LISTING
The existing Equity Shares of our Company are listed on the BSE Limited, (“BSE”) and the National Stock Exchange of India Limited
(“NSE”). Our Company has received in-principle approvals from the BSE and the NSE for listing the Rights Shares arising from this Issue
pursuant to their letters dated [●] and [●], respectively. For the purposes of the Issue, the Designated Stock Exchange is the [●].
LEAD MANAGER TO THE ISSUE REGISTRAR TO THE ISSUE
JM Financial Institutional Securities Private Limited Karvy Computershare Private Limited
141, Maker Chambers III, Plot Nos. 17-24,
Nariman Point, Vittal Rao Nagar,
Mumbai - 400 021 Madhapur, Hyderabad - 500 081
Tel: +91 22 6630 3030 / 3953 3030 Tel: +91 40 4465 5000
Fax: +91 22 2204 7185 Toll Free No.: 1800 345 4001
Email: bafl.rights@jmfl.com Fax: +91 40 2343 1551
Investor Grievance E-mail: grievance.ibd@jmfl.com Investor Grievance E-mail: bajajfinance.rights@karvy.com
Contact Person: Lakshmi Lakshmanan Contact Person: M. Murali Krishna
Website: www.jmfl.com Website : http://karisma.karvy.com
SEBI Registration No.: INM000010361 SEBI Registration No.: INR000000221
ISSUE SCHEDULE
ISSUE OPENS ON LAST DATE FOR REQUEST ISSUE CLOSES ON
FOR SPLIT APPLICATION FORMS:
[●] [●] [●]
C M Y K
THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK
TABLE OF CONTENTS
SECTION I - GENERAL ............................................................................................................................. 1
DEFINITIONS AND ABBREVIATIONS ..................................................................................................... 1
PRESENTATION OF FINANCIAL INFORMATION AND USE OF MARKET DATA ........................... 6
FORWARD LOOKING STATEMENTS ...................................................................................................... 7
SECTION II – RISK FACTORS ................................................................................................................. 8
SECTION III – INTRODUCTION............................................................................................................ 25
THE ISSUE .................................................................................................................................................. 25
SUMMARY OF FINANCIAL INFORMATION ........................................................................................ 26
GENERAL INFORMATION....................................................................................................................... 30
CAPITAL STRUCTURE ............................................................................................................................. 37
OBJECTS OF THE ISSUE .......................................................................................................................... 49
STATEMENT OF TAX BENEFITS ........................................................................................................... 52
SECTION IV – OUR MANAGEMENT .................................................................................................... 59
SECTION V – FINANCIAL INFORMATION ........................................................................................ 67
FINANCIAL INFORMATION .................................................................................................................... 67
MARKET PRICE INFORMATION ............................................................................................................ 70
DISCLOSURES ON EXISTING FINANCIAL INDEBTEDNESS ............................................................ 73
SECTION VI – LEGAL AND OTHER INFORMATION ..................................................................... 78
OUTSTANDING LITIGATIONS AND OTHER DEFAULTS .................................................................. 78
GOVERNMENT AND OTHER APPROVALS .......................................................................................... 91
MATERIAL DEVELOPMENTS ................................................................................................................. 92
OTHER REGULATORY AND STATUTORY DISCLOSURES ............................................................... 93
SECTION VII – OFFERING INFORMATION .....................................................................................104
TERMS OF THE ISSUE .............................................................................................................................104
SECTION VIII –STATUTORY AND OTHER INFORMATION ....................................................... 143
MATERIAL CONTRACTS AND DOCUMENTS FOR INSPECTION ....................................................143
DECLARATION .......................................................................................................................................145
SECTION I - GENERAL
DEFINITIONS AND ABBREVIATIONS
The following list of defined terms is intended for the convenience of the reader only and is not exhaustive.
Company Related Terms
Term Description
“Bajaj Finance” or “BFL” or Unless the context otherwise requires, refers to Bajaj Finance Limited, a
“the Company” or “our public limited company incorporated on March 25, 1987 under the
Company” or “we” or “us” or Companies Act and having its registered office located at Akurdi, Pune -
“our” 411 035
“Bajaj Finserv Group” Unless the context otherwise requires, refers to our Company, our
Corporate Promoter, its other subsidiaries and joint venture company on
a consolidated basis
Articles / Articles of Articles of Association of our Company
Association
Auditor Statutory Auditors of our Company, namely, M/s Dalal & Shah
Board / Board of Directors The board of directors of our Company or a duly constituted committee
thereof
Corporate Office The corporate office of our Company is located at 4th Floor, Bajaj
Finserv Corporate Office, Off Pune-Ahmednagar Road, Viman Nagar,
Pune - 411 014
Corporate Promoter Bajaj Finserv Limited
Director(s) Any or all director(s) of our Company, as the context may require
Equity Share(s) The equity share(s) of our Company having a face value of ` 10/- each
ESOS / ESOP 2009 Our Company’s Employee Stock Option Scheme as approved by the
shareholders of our Company vide a special resolution passed by postal
ballot on December 15, 2009, namely, “BFL Employee Stock Option
Scheme 2009”
Group Entities Companies, firms and ventures, promoted by the Promoters of our
Company, irrespective of whether such entities are covered under
erstwhile section 370 (1B) of the Companies Act or not
Memorandum / Memorandum Memorandum of Association of our Company
of Association
Promoter Group Entities and individuals forming a part of the “promoter group” as
defined in the Regulation 2(1)(zb) of the SEBI Regulations
Promoter(s) The promoters of our Company as defined in Regulation 2(1)(za) of the
SEBI Regulations are Bajaj Finserv Limited, Rahulkumar Kamalnayan
Bajaj and Madhurkumar Ramkrishnaji Bajaj
Registered Office The registered office of our Company located at Akurdi, Pune – 411 035
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