Bajaj Finance issued a clarification on Sunday through an exchange filing saying that it has no plans to spin-off payments as a separate entity. The company called the media reports as incorrect.
Bajaj Finance added that it is continuing to invest in the payment business and is committed to delivering the entire stack of payments to the customers and merchant ecosystem. According to the company, the payments business is an integral part of the company.
The report that the company mentioned in the regulatory filing was of the Hindu Business Line. The report claims that Bajaj Finance is looking to spin off the vertical as a separate subsidiary. Additionally the report claimed that in the next 3-5 years Bajaj Finance will also scale up platforms and apps that were launched in the past 4-5 years.
Bajaj Finance shares
The shares of Bajaj Finance on Friday closed at Rs 7,024.50, down by 0.23 per cent.