Bajaj Auto Ltd on Wednesday confirmed that it has completed the acquisition of a controlling stake in Austrian motorcycle manufacturer KTM, following the final approval from European regulators for its €800-million deal. As part of the restructuring, the company announced that Pierer Bajaj AG (PBAG) has been renamed Bajaj Auto International Holdings AG, while Pierer Mobility AG (PMAG)—the parent company of KTM AG and listed on both the SIX Swiss Exchange in Zurich and the Vienna Stock Exchange—will now operate under the name Bajaj Mobility AG. The update was shared through a regulatory filing.
Earlier in the month, Bajaj had disclosed that eight of nine required approvals were already in hand, and on November 10 the European Commission issued the final clearance needed for the transaction to proceed. Back in May, Bajaj Auto revealed its plan to transition from a passive minority investor to the majority owner of KTM. The acquisition was executed through its wholly owned subsidiary, Bajaj Auto International Holdings BV (BAIHBV), which secured €800 million (approx. ₹7,765 crore) in debt financing to complete the buyout.
Before this transaction, Bajaj held 49.9% in its associate company PBAG, with the remaining stake controlled by PiererIndustrie AG, owned by entrepreneur Stefan Pierer. PBAG in turn owned nearly 75% of PMAG, giving Bajaj an effective 37.5% indirect holding in PMAG/KTM.
According to Wednesday’s filing, all conditions of the Call Option Agreement have been satisfied, enabling BAIH to acquire all 50,100 shares of PBAG from PiererIndustrie AG on November 18, 2025. With this transfer complete, Bajaj Auto now has full ownership of PBAG through BAIH, and consequently holds 74.9% in PMAG/KTM. PBAG has therefore become a wholly owned subsidiary of BAIH, making it a step-down subsidiary of Bajaj Auto. Likewise, PMAG/KTM now also fall under Bajaj Auto’s step-down subsidiary structure from the same date.
With the Pierer Group fully exiting PBAG and therefore PMAG/KTM, the entity names have been officially updated to reflect Bajaj’s complete control. Additionally, the supervisory and management boards of PBAG, PMAG, and KTM have been reconstituted following the change in ownership.
Bajaj Auto is one of India’s leading two- and three-wheeler manufacturers, renowned for its innovation, reliability, and global presence. Founded in 1945 and headquartered in Pune, the company has established itself as a key player in the automotive industry, producing motorcycles, scooters, and auto-rickshaws that cater to diverse markets.
With a strong focus on performance, fuel efficiency, and affordability, Bajaj Auto has built iconic brands like Pulsar, Dominar, and Chetak (its electric scooter). The company is also a major exporter, with a presence in over 70 countries. Committed to sustainability and technological advancements, Bajaj Auto continues to shape the future of mobility with cutting-edge engineering and a vision for eco-friendly transportation.
