Bajaj Auto Ltd on Wednesday announced the completion of acquisition of a majority stake in Austrian bike maker KTM following receipt of necessary approvals from European regulators for its 800-million euro transaction.
The company has also changed the name of Pierer Bajaj AG (PBAG) to Bajaj Auto International Holdings AG and PIERER Mobility AG (PMAG) -- the holding company of KTM AG, the shares of which are listed on SIX Swiss Exchange in Zurich and Vienna Stock Exchange — to Bajaj Mobility AG, Bajaj Auto said in a regulatory filing.
Earlier this month the company had stated that out of nine regulatory approvals it had received eight and on November 10, it had received notification from the European Commission for the same.
31 October 2025
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In May this year, Bajaj Auto announced its intention to acquire a majority stake in KTM through its wholly-owned subsidiary Bajaj Auto International Holdings BV, which has arranged a debt funding package of 800 million euro (about ₹7,765 crore), to shift gears from hitherto being a dormant minority investor to a majority owner in the global KTM company.
PBAG held a nearly 75% stake in its subsidiary, Pierer Mobility AG (PMAG), the holding company of KTM AG. Thus, Bajaj effectively held 37.5% in PMAG/KTM, through the above chain.
"In view of the fulfilment of all the conditions precedent of the said Call Option Agreement, the transaction to acquire all 50,100 shares of PBAG by BAIH from PIAG, has been completed on November 18, 2025," Bajaj Auto said in a regulatory filing on Wednesday.
Further, Bajaj Auto said,"This has also consummated the acquisition of the sole controlling stake by the company through its wholly owned subsidiary, viz., BAIH in PBAG and thereby acquisition of a controlling stake in PMAG and KTM." BAIH will now hold 100% of the total shareholding of PBAG, and through PBAG shall hold 74.9% in PMAG/KTM, it added.
Thus, PBAG has become the wholly owned subsidiary of BAIH and in turn a step-down subsidiary of the company, effective from November 18, 2025, Bajaj Auto said.
PMAG/KTM have also become the step-down subsidiaries of BAIH and the company, effective from November 18, 2025, it added.
With the exit of the Pierer Group from PBAG and therefore, PMAG/KTM, Bajaj Auto said the name of Pierer Bajaj AG (PBAG) has been changed to Bajaj Auto International Holdings AG and that of PIERER Mobility AG (PMAG) to Bajaj Mobility AG.
Moreover, the supervisory boards and management boards of PBAG, PMAG and KTM are reconstituted, the filing said.
