The latest version follows the launch of the Ninja 650R introduced in June 2011.
The company has so far sold 3,000 units in the Ninja family, which was first introduced in 2009.
The auto firm claims to be the leader in the sports bike segment with a market share of 65 percent in the Rs 2 to 5 lakh two-wheeler category.
"We will start bookings from next week and in the next three to four weeks the delivery will begin," Bajaj Auto Pro-biking Vice President Amit Nandi told reporters here.
After the Kawasaki Ninja 250R and the KTM 200 Duke, the new 2012 Kawasaki Ninja 650 is the third premium sports motorcycle model introduced in the country by the domestic auto player.
Bajaj Auto has a marketing and production tie-up with Japanese power bikes major Kawasaki. The bikes come as semi knocked down units and are assembled at the firm`s Chakan plant in Pune.
Nandi declined to divulge the sales target for the new bike but said it would be "significant".