Bajaj Finance - Bajaj Finserv's AMC Licence To Benefit Entire Group: Motilal Oswal
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Motilal Oswal Report
Bajaj Finserv Ltd. has got an in-principle approval from Securities and Exchange Board of India for sponsoring a mutual fund.
While the opportunity is huge, given the under penetration and financialisation of savings in the country, the competitive intensity in the industry is high with 44 players.
Bajaj Finserv has inherent advantages in its business model, given its presence in the retail finance, life insurance, general insurance, and securities businesses.
Strong brand presence and wide distribution reach are key pillars for garnering assets under management, where Bajaj Allianz General Insurance Co., Bajaj Allianz Life Insurance Co., and Bajaj Finance Ltd. have proved their expertise.
Cross-sell to the existing customers of these businesses is a huge opportunity.
Barring any new Covid-related disruptions, we expect Bajaj Finance to deliver ~21% AUM growth in FY22E and 25% compounded annual growth rate thereafter.
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