Bajaj Auto raises stake in KTM Power Sports to 47%; has been consistently increasing stake

MUMBAI: Bajaj Auto, India's second-largest two-wheeler maker, has tightened its hold on KTM POWER SPORT by buying another 6.3%, taking it stake in the Austrian motorcycle to a little over 47%.
ET learnt that the company purchased this stake from one of the key stake holders through an open market transaction recently. The purchase was made through Bajaj Auto International Holdings, a Netherlands-based wholly-owned subsidiary of Bajaj Auto.
A senior Bajaj official confirmed the development, but declined to share the details, as the firm is bound by confidentiality agreement.
Bajaj Auto is the second-largest shareholder in KTM. Other large shareholders-Stefan Pierer and Rudolf Knuenz-hold more than 51% stake. Bajaj Auto and KTM are working on a few joint development projects.

Posted By- Nitesh Kumar Singh