Bajaj Auto subsidiary invests EUR 50m in Pierer Bajaj AG

Bajaj Auto Limited [BSE: 532977] announced that its wholly-owned subsidiary, Bajaj Auto International Holdings BV (BAIH BV), has subscribed to EUR 50 million of convertible bonds issued by Pierer Bajaj AG (PBAG) on March 31, 2025. The investment, equivalent to INR 461.6 crore, will support the funding needs of KTM AG, a subsidiary of PBAG, in resuming motorcycle production and covering operating costs. BAIH BV holds a 49.9% stake in PBAG, which in turn owns a 74.94% stake in PIERER Mobility AG. The transaction, approved by Bajaj Auto's Audit Committee, is classified as a related party transaction conducted at arm's length. The convertible bonds have a maturity date of March 31, 2028, and can be converted into shares of PBAG between June 1, 2025, and February 29, 2028.