5 Aug 2024
The healthcare business arm will be launched through a new entity under the Bajaj Group and has set up an office in Lower Parel, Mumbai.
After exploring various sectors for over two years, the Bajaj Group finalised the Healthcare sector. It hired one of the top three global consulting firms to shortlist a sector they could get into.
The Bajaj family council chose this domain because of the high demand for hospital chains in metro cities and the increasing corporate culture in the healthcare sector. Nirav Bajaj, the MD of the Group’s steel venture, Mukand, is supervising the strategic decisions and will likely head the new healthcare entity.
This new entity will mark the first significant diversification since the group lost its patriarch, Rahul Bajaj, in February 2022. The 98-year-old group is into automobiles, iron and steel, lighting, home appliances, insurance, travel and finance sectors.
In December 2023, Bajaj Group became India’s fifth largest conglomerate to cross the ₹10 lakh crore mark. Today, it has a market capitalisation of ₹10.75 lakh crore.