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The initial public offering of Bajaj Housing Finance is scheduled to open for subscription on September 9.
Bajaj Housing Finance IPO is a book-built public issue looking to raise Rs 6,560 crore. The IPO comprises 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.
The IPO will be open for subscription from September 9, 2024, to September 11, 2024.
The price band for the IPO is set between Rs 66 and Rs 70 per share. Retail investors must apply for a minimum of 214 shares, requiring a minimum investment of Rs 14,980. For sNII, the minimum lot size is 14 lots (2,996 shares), amounting to Rs 209,720, and for bNII, it is 67 lots (14,338 shares), totaling Rs 1,003,660.
The book running lead managers for the IPO include Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited, and IIFL Securities Ltd. Kfin Technologies Limited will serve as the registrar for the issue.
Bajaj Housing Finance IPO latest GMP
The current Grey Market Premium (GMP) for Bajaj Housing Finance’s IPO is Rs 53, as of September 3, 2024, 11:57 AM.
Given the price band of Rs 70, the estimated listing price for the IPO is Rs 123 (comprising the cap price plus today’s GMP). This suggests a projected gain or loss of 75.71% per share.
Bajaj Housing Finance, established in 2008, is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015. The company started offering mortgage loans from the financial year 2018.
The allotment of shares is expected to be finalised on Thursday, September 12, 2024. Bajaj Housing Finance is set to list its shares on both BSE and NSE, with the tentative listing date scheduled for Monday, September 16, 2024.