Bajel Projects shareholders and shareholding pattern

NSE: BAJELBSE: 544042Electrical EquipmentSmall Cap

Bajel Projects Limited · Face value ₹2 · Listed Dec 2023

₹161.20₹7.14 (4.24%)BSE ₹160.90

Share price at the NSE close on 28 Oct 2026. Previous close ₹168.34.

28 Oct: open ₹165.00, high ₹167.72, low ₹160.55

52-week range of traded prices to 28 Oct 2026

₹135.10Low, 30 Mar 2026₹215.50High, 29 May 2026

Market cap: ₹1,865 Cr1,161st largest listed
P/E: 84.58
P/E without one-offs: 62.65
P/B: 2.50
Dividend yield: 0.37%
ROE: 3.1%
ROE without one-offs: 4.2%
ROCE: 7.3%
Debt to equity: 0.47
Volume, NSE: 2,02,416

Bajel Projects' shareholding pattern for Sep 2026, filed on 16 Oct 2026, with every filing from Dec 2023: who owns its shares by group, its promoters by name and its public holders of 1% or more.

Who owns Bajel Projects, filing by filing

Per cent of the company's shares.

Sep 2026 filing

Promoters62.52%
Foreign institutions0.32%
Indian institutions9.14%
GovernmentsNone
Individuals and others28.02%

Shareholding pattern, per cent

Promoters
Foreign institutions
Indian institutions
Governments
Individuals and others

Per cent	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	62.85%	62.75%	62.72%	62.61%	62.59%	62.58%	62.57%	62.55%	62.53%	62.53%	62.53%	62.52%
Indian promoters	62.85%	62.75%	62.72%	62.61%	62.59%	62.58%	62.57%	62.55%	62.53%	62.53%	62.53%	62.52%
	37.15%	37.25%	37.28%	37.39%	37.41%	37.42%	37.43%	37.45%	37.47%	37.47%	37.47%	37.48%
	10.46%	0.51%	0.29%	0.49%	0.29%	0.31%	0.32%	0.67%	0.40%	0.51%	0.53%	0.32%
Foreign portfolio investors, category I	9.71%	0.51%	0.29%	0.48%	0.27%	0.27%	0.30%	0.53%	0.39%	0.44%	0.43%	0.31%
Foreign portfolio investors, category II	0.75%	0.00%	0.00%	0.02%	0.01%	0.04%	0.02%	0.14%	0.01%	0.06%	0.10%	0.02%
	12.03%	8.07%	7.83%	8.30%	9.54%	9.60%	10.30%	8.66%	9.06%	9.57%	9.20%	9.14%
Mutual funds	11.46%	8.06%	7.76%	8.27%	9.53%	9.59%	10.26%	8.66%	9.01%	9.52%	9.14%	9.14%
Insurance companies	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	–
Banks	0.05%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%
Alternative investment funds	0.21%	0.01%	0.07%	0.02%	0.00%	0.00%	0.04%	–	0.05%	0.06%	0.06%	–
Non-bank lenders registered with RBI	Under 0.01%	Under 0.01%	Under 0.01%	0.01%	0.01%	0.01%	–	–	–	–	–	–
	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	–
Central government	Under 0.01%	Under 0.01%	0.00%	0.00%	0.00%	0.00%	–	–	–	–	–	–
	14.67%	28.67%	29.16%	28.59%	27.59%	27.51%	26.81%	28.12%	28.01%	27.39%	27.74%	28.02%
Resident individuals, up to ₹2 lakh at face value	8.03%	19.44%	20.14%	20.07%	19.08%	19.06%	18.00%	18.69%	18.80%	18.50%	18.43%	18.29%
Resident individuals, over ₹2 lakh at face value	0.82%	1.32%	1.53%	1.21%	1.45%	1.55%	1.88%	2.04%	1.90%	1.56%	1.92%	2.14%
Companies	1.26%	2.13%	1.74%	1.66%	1.50%	1.32%	1.30%	1.40%	1.28%	1.32%	1.27%	1.29%
Non-resident Indians	0.76%	1.18%	1.23%	1.07%	1.07%	1.02%	0.99%	1.06%	1.09%	1.10%	1.09%	1.09%
Investor education fund	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%	0.26%
Directors and their relatives	0.01%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.00%
Key managers	0.03%	0.04%	0.01%	0.01%	0.01%	0.01%	–	0.00%	0.00%	0.00%	0.00%	0.00%
Trusts linked to the promoter group	–	–	–	–	–	–	0.94%	0.93%	0.93%	0.93%	0.93%	0.93%
Trusts linked to the promoter group	0.94%	0.94%	0.94%	0.94%	0.94%	0.94%	–	–	–	–	–	–
	2.55%	3.34%	3.30%	3.34%	3.26%	3.33%	3.42%	3.71%	3.73%	3.70%	3.80%	4.01%
Bodies Corporate	0.15%	–	–	–	–	–	–	–	–	–	–	–
Clearing Members	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	0.15%	0.13%	0.14%	0.12%	0.14%
Hindu undivided families	0.23%	0.98%	0.95%	0.98%	0.90%	1.01%	0.91%	0.97%	0.99%	1.01%	1.16%	Under 0.01%
Trusts	1.83%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%	1.79%
Unclaimed or Suspense or Escrow Account	0.33%	0.33%	0.33%	0.33%	0.31%	0.31%	0.30%	0.30%	0.30%	0.30%	0.30%	0.30%
Others	–	0.23%	0.22%	0.20%	0.26%	0.22%	–	–	–	–	–	–
Director or Director's Relatives	–	–	–	0.04%	–	–	–	–	–	–	–	–
Body Corp-Ltd Liability Partnership	–	–	–	–	–	–	0.19%	0.21%	0.20%	0.15%	0.18%	–
Employees	–	–	–	–	–	–	0.19%	0.25%	0.27%	0.27%	0.21%	0.22%
Independent Director	–	–	–	–	–	–	0.04%	0.04%	0.04%	–	–	–
Office Bearers	–	–	–	–	–	–	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	Under 0.01%	1.38%
Independent Director or his relatives	–	–	–	–	–	–	–	–	–	0.04%	0.04%	0.04%
LLP	–	–	–	–	–	–	–	–	–	–	–	0.14%
Promoter shares pledgedShare of the promoters' own shares	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%	2.55%
Shares in issue	11,51,01,953	11,52,83,752	11,53,39,952	11,55,35,278	11,55,80,828	11,56,02,685	11,56,20,535	11,56,58,560	11,56,86,310	11,56,96,935	11,56,96,935	11,57,18,985

Pledged is the share of the promoters' own shares given to lenders as security. A dash is a line the filing did not state. “Under 0.01%” is a holding of shares too small to show at two decimals.

Number of Bajel Projects shareholders

Shareholders on the company's register in each filing.

Shareholders, filing by filing

Shareholders	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
All shareholders	62,796	83,268	90,106	90,725	89,929	88,561	85,939	85,013	83,991	83,533	83,063	81,427
	48	48	48	48	48	48	47	47	47	47	47	47
Indian promoters	48	48	48	48	48	48	47	47	47	47	47	47
	62,748	83,220	90,058	90,677	89,881	88,513	85,892	84,966	83,944	83,486	83,016	81,380
	74	15	14	16	14	18	15	16	12	14	12	14
Foreign portfolio investors, category I	69	15	14	15	13	15	13	13	10	11	9	12
Foreign portfolio investors, category II	5	0	0	1	1	3	2	3	2	3	3	2
	22	9	10	9	9	7	8	6	8	8	8	7
Mutual funds	7	3	3	2	2	2	3	2	3	3	3	3
Insurance companies	2	0	0	0	0	0	–	–	–	–	–	–
Banks	4	4	4	4	4	4	4	4	4	4	4	4
Alternative investment funds	8	1	2	1	0	0	1	–	1	1	1	–
Non-bank lenders registered with RBI	1	1	1	2	3	1	–	–	–	–	–	–
	1	1	0	0	0	0	–	–	–	–	–	–
Central government	1	1	0	0	0	0	–	–	–	–	–	–
	62,651	83,195	90,034	90,652	89,858	88,488	85,869	84,944	83,924	83,464	82,996	81,359
Resident individuals, up to ₹2 lakh at face value	59,908	79,602	86,324	86,836	86,126	84,827	82,214	81,216	80,243	79,879	79,373	77,747
Resident individuals, over ₹2 lakh at face value	6	9	8	8	10	10	11	11	11	9	12	14
Companies	384	422	384	381	368	335	323	322	298	285	288	296
Non-resident Indians	1,567	1,696	1,732	1,737	1,719	1,705	1,670	1,663	1,661	1,655	1,677	1,664
Investor education fund	1	1	1	1	1	1	1	1	1	1	1	1
Directors and their relatives	1	1	1	1	1	1	1	1	1	1	1	0
Key managers	2	2	1	1	1	1	–	0	0	0	0	0
Trusts linked to the promoter group	–	–	–	–	–	–	6	6	6	6	6	6
Trusts linked to the promoter group	6	6	6	6	6	6	–	–	–	–	–	–
	776	1,456	1,577	1,681	1,626	1,602	1,643	1,724	1,703	1,628	1,638	1,631
Bodies Corporate	33	–	–	–	–	–	–	–	–	–	–	–
Clearing Members	7	7	4	5	7	4	4	37	32	30	26	27
Hindu undivided families	726	1,391	1,518	1,616	1,563	1,547	1,496	1,514	1,504	1,441	1,475	1
Trusts	8	5	6	8	8	6	6	6	6	6	6	6
Unclaimed or Suspense or Escrow Account	2	2	2	2	2	2	2	2	2	2	2	2
Others	–	51	47	49	46	43	–	–	–	–	–	–
Director or Director's Relatives	–	–	–	1	–	–	–	–	–	–	–	–
Body Corp-Ltd Liability Partnership	–	–	–	–	–	–	40	42	42	39	31	–
Employees	–	–	–	–	–	–	92	119	114	108	96	87
Independent Director	–	–	–	–	–	–	1	1	1	–	–	–
Office Bearers	–	–	–	–	–	–	2	3	2	1	1	1,488
Independent Director or his relatives	–	–	–	–	–	–	–	–	–	1	1	1
LLP	–	–	–	–	–	–	–	–	–	–	–	19

A dash is a line the filing did not state.

Bajel Projects promoters

Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Sep 2026; the largest is Jamnalal Sons Private Limited, 19.49%. The filing names 39 more members with no shares.Promoter buying and selling

Holder
Jamnalal Sons Private LimitedIndian companies, trusts and others	19.49%	2,25,48,276	0.00%
Bajaj Holdings and Investment LtdIndian companies, trusts and others	16.54%	1,91,36,840	0.00%
Kiran BajajIndividuals and Hindu undivided families	6.52%	75,45,224	0.00%
Geetika BajajIndividuals and Hindu undivided families	1.87%	21,60,084	0.00%
Vanraj BajajIndividuals and Hindu undivided families	1.59%	18,43,556	100.00%
Shekhar BajajIndividuals and Hindu undivided families	1.57%	18,14,639	0.00%
Pooja BajajIndividuals and Hindu undivided families	1.33%	15,41,875	0.00%
Baroda Industries Private LimitedIndian companies, trusts and others	1.22%	14,12,738	0.00%
Hind Musafir Agency LimitedIndian companies, trusts and others	1.11%	12,88,000	0.00%
Manish Santoshkumar KejriwalIndividuals and Hindu undivided families	1.07%	12,40,730	0.00%
Niraj BajajIndividuals and Hindu undivided families	0.98%	11,30,882	0.00%
Vanraj Bajaj Trust (Kiran Bajaj as a Trustee)Indian companies, trusts and others	0.86%	10,00,000	0.00%
Bajaj International Pvt LtdIndian companies, trusts and others	0.79%	9,17,881	0.00%
Neelima Bajaj Swamy Family Trust (Neelima Bajaj Swamy as a Trustee)Indian companies, trusts and others	0.70%	8,12,973	0.00%
Minal BajajIndividuals and Hindu undivided families	0.60%	6,94,674	0.00%
Nimisha Jaipuria Family Trust (Nimisha Jaipuria as a Trustee)Indian companies, trusts and others	0.54%	6,28,043	0.00%
Hercules Hoists LimitedIndian companies, trusts and others	0.54%	6,24,596	0.00%
Shekhar Holdings Pvt LtdIndian companies, trusts and others	0.47%	5,40,253	0.00%
Niravnayan Trust (Niraj Bajaj as a Trustee)Indian companies, trusts and others	0.45%	5,24,721	0.00%
Niravnayan Bajaj Family Trust (Niraj Bajaj as a Trustee)Indian companies, trusts and others	0.43%	5,00,000	0.00%
Kriti Bajaj Family Trust (Minal Niraj Bajaj as a Trustee)Indian companies, trusts and others	0.43%	5,00,000	0.00%
Rishab Family Trust (Rajivnayan Bajaj as a Trustee)Indian companies, trusts and others	0.41%	4,71,052	0.00%
Rahul Securities Pvt LtdIndian companies, trusts and others	0.40%	4,67,093	0.00%
Sanjivnayan BajajIndividuals and Hindu undivided families	0.37%	4,28,749	0.00%
Kumud BajajIndividuals and Hindu undivided families	0.35%	4,00,000	0.00%
Niravnayan BajajIndividuals and Hindu undivided families	0.24%	2,82,507	0.00%
Siddhant Family Trust (Sanjivnayan Bajaj as a Trustee)Indian companies, trusts and others	0.23%	2,62,717	0.00%
Sanjali Family Trust (Sanjivnayan Bajaj as a Trustee)Indian companies, trusts and others	0.23%	2,62,717	0.00%
Nimisha Bajaj Family Trust (Kumud Bajaj as a Trustee)Indian companies, trusts and others	0.18%	2,06,575	0.00%
Neelima Bajaj SwamyIndividuals and Hindu undivided families	0.17%	2,00,000	0.00%
Madhur Nimisha Family Trust (Kumud Bajaj as a Trustee)Indian companies, trusts and others	0.11%	1,25,799	0.00%
Kumud Neelima Family Trust (Nimisha Jaipuria as a Trustee)Indian companies, trusts and others	0.11%	1,25,800	0.00%
Kumud Nimisha Family Trust (Neelima Bajaj Swamy as a Trustee)Indian companies, trusts and others	0.11%	1,25,800	0.00%
Madhur Neelima Family Trust (Kumud Bajaj as a Trustee)Indian companies, trusts and others	0.11%	1,25,800	0.00%
Suman JainIndividuals and Hindu undivided families	0.10%	1,10,700	0.00%
Kriti BajajIndividuals and Hindu undivided families	0.09%	1,01,297	0.00%
Bachhraj Factories Private LimitedIndian companies, trusts and others	0.09%	1,05,466	0.00%
Bachhraj & Co Private LimitedIndian companies, trusts and others	0.06%	66,585	0.00%
Shefali BajajIndividuals and Hindu undivided families	0.03%	33,767	0.00%
Neelima Bajaj Family Trust (Kumud Bajaj as a Trustee)Indian companies, trusts and others	0.02%	21,644	0.00%
Deepa BajajIndividuals and Hindu undivided families	0.00%	1,126	0.00%
Bajaj Sevashram Private LimitedIndian companies, trusts and others	0.00%	5,550	0.00%
Kamalnayan Investments and Trading Private LimitedIndian companies, trusts and others	0.00%	1,110	0.00%
Madhur Securities Private LimitedIndian companies, trusts and others	0.00%	1,110	0.00%
Niraj Holdings Private LimitedIndian companies, trusts and others	0.00%	1,110	0.00%
Rupa Equities Private LimitedIndian companies, trusts and others	0.00%	1,110	0.00%
Sanraj Nayan Investments Private LimitedIndian companies, trusts and others	0.00%	1,110	0.00%

Pledged is the share of the holder's own shares pledged to a lender.

Largest public holders of Bajel Projects, filing by filing

Per cent, on the same shares as the split above.

Holder	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
Government Pension Fund GlobalForeign portfolio investors, category I	5.37%	–	–	–	–	–	–	–	–	–	–	–

A filing names every holder above one per cent, in the company's own words: an insurer's holding can carry one of its funds' names. A dash is a filing that did not name the holder, which includes holding under one per cent.