India’s financial sector is dominated by large government-owned and private-sector banks. Major players like State Bank of India (SBI), HDFC Bank, and ICICI Bank control much of the financial space, spanning lending, insurance, and asset management.
However, Bajaj Group is now challenging this dominance due to the high profitability and market capitalisation (Mcap) of its financial arms such as Bajaj Finserv, Bajaj Finance, and the newly listed Bajaj Housing Finance.
Following the initial public offering (IPO) and listing of Bajaj Housing Finance, Bajaj Group has emerged as the third-largest financial group in the country by mcap, behind the HDFC and ICICI groups but ahead of the SBI group.
