Bajaj Auto subsidiary secures full control of Pierer Bajaj AG

Bajaj Auto Limited's wholly owned subsidiary, Bajaj Auto International Holdings BV (BAIH), has issued a subsequent Notice of Call Exercise for 24,000 shares of Pierer Bajaj AG (PBAG), termed "Call Option 2." This acquisition involves a cash consideration of €24.31 million, with closing subject to regulatory approvals. This follows an earlier "Call Option 1" for 26,000 shares of PBAG issued on June 4, 2025.

With the consummation of Call Option 1, Call Option 2, and a separate 0.1% acquisition, BAIH will hold 100% of PBAG's total shareholding. This will make PBAG a wholly owned subsidiary of BAIH and a step-down subsidiary of Bajaj Auto Limited. The move aims to acquire sole controlling stake in PBAG, and thereby controlling stake in PIERER Mobility AG (PMAG) and KTM AG (KTM).

The Austrian Takeover Commission approved the restructuring privilege on October 23, 2025, eliminating the obligation for a mandatory takeover bid to PMAG shareholders. This information was received by Bajaj Auto Limited on November 6, 2025.