Bajaj Auto, Pierer Industrie AG to rearrange shareholding pattern in KTM PIERER Mobility AG (PMAG) and Bajaj Auto's 100 per cent Netherlands subsidiary, Bajaj Auto International Holdings BV (BAIHBV), held 51.7 per cent and 48 per cent respectively in KTM AG. Subsequently, PMAG's stake in KTM AG would stand increased to 98.2 per cent (Source: PTI) PTI Updated Jul 27, 2021, 10:25 AM IST Bajaj Auto Ltd on Monday said it has reached an agreement its Austrian partner Pierer Industrie AG for simplifying their shareholding pattern in premium bike maker KTM through a two-step transfer of their stakes to a new holding company. Earlier, PIERER Mobility AG (PMAG) and Bajaj Auto's 100 per cent Netherlands subsidiary, Bajaj Auto International Holdings BV(BAIHBV), held 51.7 per cent and 48 per cent respectively in KTM AG.