News for PIERER Mobility AG (PMAG.SW)

Bajaj Auto Limited announced yesterday that its wholly owned Dutch subsidiary, Bajaj Auto International Holdings BV (BAIH BV), has provided a €50 million loan (approximately ₹455.56 crore) to Pierer Bajaj AG (PBAG) on February 24, 2025 .

Bajaj Auto Ltd on Friday said its board has approved an investment of up to Euro 150 million (Rs 1,364 crore) in its wholly-owned arm, Bajaj Auto International Holdings BV, Netherlands, to fund the needs of the latter towards investment opportunities.

The investment will be either in the form of equity capital/preference capital/loan – convertible or otherwise in one or more tranches.

Bajaj Auto Ltd. is set to invest €150 million in Bajaj Auto International Holdings BV, which holds 49.9% stake in bankruptcy-bound KTM, for “investment needs”. KTM’s debt restructuring process ends on Feb. 25. On Nov. 13, 2024, Pierer Mobility announced “far-reaching restructuring and additional liquidity requirements” at KTM AG.

The judicial restructuring of Pierer Mobility AG will not affect Bajaj Auto's business related to KTM products in India and select export markets. However, it is impacting Pierer Mobility AG/KTM AG's export volumes from Austria, India, and China to key markets in the US and Europe. Bajaj Auto remains committed to the sustained growth of this business.

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