Bajaj Auto Increases Stake In KTM

KTM Power Sports, Europe’s second largest motorcycle manufacturer and World’s No I Off-Road Bike maker, closed a 42.99 Million Euro Capital increase on 16th April 201O. The Capital increase comprised of 13.24 Million Euros by way of conversion of loans and 29.75 Million Euros Cash rights issue. Bajaj Auto has invested Euro 20 Million in this capital increase and consequently has increased its share-holding in KTM from 31.92% to 35.67%. The joint development projects are proceeding well and the first products will hit the markets by the end of this year in Europe and by middle of 2011 in India. Bajaj will distribute KTM products in India and in markets like Sri Lanka, Bangladesh, Indonesia, Africa.