Bajaj Auto Ltd has no plan to offer the Japanese company Kawasaki an equity stake in Bajaj Auto or any of its subsidiaries, Rahul Bajaj, chairman and managing director of the company, said in Pune on Saturday.

Addressing the shareholders at the 58th annual general meeting, he said only for the purpose of marketing, Bajaj might make use of the Kawasaki channel to reach the global markets.

Bajaj said the company would also launch a new bike in the current financial year which will complete the gamut of the middle segment bike.

"It will help to increase the percentage in the middle segment bikes. Last year the percentage in this segment was 7, with the launch of Caliber it went up to 13 and with the recent of launch of Wind and the new one which we intends to roll out, the percentage is likely to further register an increase," he added.

He however, did not not spell out the details of the new model of the bike.

Bajaj said to develop a healthy dealer network for the long term, the company has moved towards a policy of "zero" credit.