Bajaj Auto Ltd.

Bajaj Auto, through its wholly owned subsidiary -- Bajaj Auto International Holdings BV (BAIHBV), is planning to take control of the KTM business that is headquartered in Austria. With this action and post requisite approvals coming through, Bajaj will shift gears from hitherto being a dormant minority investor to a majority owner in the global KTM company, whilst it continues to accelerate the thriving KTM business that is run out of India under the joint development program, where it develops, makes and sells in India as well as exports to 80 countries across the KTM network.

Simultaneously, BAIHBV has arranged a debt funding package of 800 million Euro to enable the continuity of the KTM business by paying off the approved quota to the creditors in furtherance of KTM’s debt restructuring with the approval of the competent Court in Austria and infusing funds into the company to revive its operations and working capital cycle. Of this total 800 million Euro debt package, 200 million Euro has already been infused into the company so far and the balance 600 million Euro is being done now.

Bajaj Auto is an Indian company which manufactures motorcycles, three-wheelers and quadricycles.