Image: Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank (NHB) since 2015, offering mortgage loans.
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The much-awaited initial public offering (IPO) of Bajaj Housing Finance will kick off for bidding on September 9, Monday and the three-day bidding for the Bajaj Group-backed issue will conclude on September 11, Wednesday. The company has filed its red herring prospectus (RHP) for the same.
Bajaj Housing Finance is eyeing to raise a total of Rs 6,560 crore via its primary stake sale, which includes a fresh share sale of Rs 3,560 crore and Rs 3,000 crore via offer-for-sale (OFS) by its promoters and existing shareholders. The price band for the issue shall be announced on Tuesday, September 3 and the anchor for the issue will open on Friday, September 6.
The company will have a reservation for the shareholders of Bajaj Finance and Bajaj Finance. Investors, who held either Bajaj Finance or Bajaj Finserv shares as of August 30, 2024, in their demat accounts will be eligible to apply the shareholder’s quota. More details are awaited yet.
The latest grey market premium (GMP) for Bajaj Housing Finance shot up sharply to Rs 65 per share even before the price band for the issue was announced. However, the premium in the unofficial markets stood at Rs 40 on Friday.
Kotak Mahindra Capital Company, Bofa Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities are the book-running lead managers of the Bajaj Housing Finance IPO, while Kfin Technologies is the registrar for the issue.
Founded in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018. The company is part of the Bajaj Group, a diversified group of companies with interests in various sectors.
Bajaj Housing Finance had 308,693 active customers as of March 31, 2024, of which 81.7 per cent were home loan customers. It has a network of 215 branches in 174 locations across 20 states and three union territories, overseen by six centralized retail loan review centers and seven centralized loan processing centers.
