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The initial public offering (IPO) of Bajaj Housing Finance Limited opened for bidding on Monday as the public issue looks to raise Rs 6,560 crore.
Bajaj Housing Finance, established in 2008, is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015. It began offering mortgage loans in 2018.
As part of the Bajaj Group, the company offers tailored financial solutions for individuals and businesses to buy or renovate homes and commercial properties.
The proceeds from this public offering will be used to strengthen Bajaj Housing Finance’s capital base, positioning it to meet future business needs.
10 things to know about Bajaj Housing Finance IPO
Subscription period: The IPO of Bajaj Housing Finance will be open for subscription from September 9 until September 11, 2024
Price band: The price band for Bajaj Housing Finance IPO is set between Rs 66 and Rs 70 per share.
Fundraising target: Bajaj Housing Finance IPO is a book-built issue worth Rs 6560 crore.
Issue division: The IPO is a mix of a fresh issue of 50.86 crore shares, amounting to Rs 3,560 crore, and an offer for sale of 42.86 crore shares, coming in at Rs 3,000 crore.
Lot size: The minimum lot size for an application is 214 shares, requiring a minimum investment of Rs 14,980 for retail investors.
For sNII, the minimum investment is 14 lots (2,996 shares) totalling Rs 209,720, and for bNII, it is 67 lots (14,338 shares) amounting to Rs 1,003,660.
Allotment date: Finalisation of share allocation for the Bajaj Housing Finance IPO is expected on September 12, 2024.
Listing date: The shares of Bajaj Housing Finance will list on stock exchanges on September 16, 2024.
Registrar: Kfin Technologies Limited is the registrar for the issue of Bajaj Housing Finance IPO.
Listing platforms: The shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Grey market premium (GMP): The latest Grey Market Premium (GMP) for the Bajaj Housing Finance IPO is Rs 57 as of September 9, 2024 at 10:28 AM, suggesting an estimated listing price of Rs 127. This indicates an expected percentage gain per share of 81.43%.