The Bajaj Housing Finance IPO is set to open for subscription on September 9, 2024, with plans to raise ₹6,560 crore. This public issue includes both a fresh issue of ₹3,560 crore and an offer for sale (OFS) by its parent company, Bajaj Finance, amounting to ₹3,000 crore. The IPO is crucial for Bajaj Housing Finance as it complies with the Reserve Bank of India’s requirement that upper-layer non-banking financial companies (NBFCs) must be listed by September 2025.
- Dates: The IPO opens on September 9 and closes on September 11, with the price band expected to be announced on September 3, 2024. The anchor investor portion will open on September 6.
- Objective: The funds raised will be used to strengthen the company’s capital base and support its lending activities.
- Allocation: Up to 50% of the offer is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail investors.
- Financials: Bajaj Housing Finance reported assets under management (AUM) of ₹97,071 crore as of June 2024, showcasing strong growth from ₹74,124 crore in the previous year.
- Promoters: Bajaj Finance, the parent company, is reducing its stake in the company as part of this offer for sale.
The IPO represents an opportunity for investors looking to tap into India’s expanding housing finance market, with Bajaj Housing Finance already being a strong player in the sector.
For more details on the IPO, including book-runners and specifics about the offer, check out more comprehensive coverage from business news platforms
