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The initial public offering (IPO) of Bajaj Housing Finance will open for bidding on Monday, September 9. The Bajaj Group firm will be offering its shares in the range of Rs 66-70 apiece. Investors can apply for a minimum of 214 equity shares and its multiples thereafter. The issue will close for bidding on Wednesday, September 11.
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. It is part of the Bajaj Group, a diversified group of companies with interests in various sectors.
Bajaj Housing Finance is looking to raise a total of Rs 6,560 crore from its primary stake sale, which includes a fresh share sale of Rs 3,560 crore and an offer-for-sale (OFS) of Rs 3,000 crore from its promoter Bajaj Finance Ltd. Anchor book for the issue will open on Friday, September 6.
Bajaj Housing Finance provides customized financial solutions to individuals and corporates for the purchase and renovation of homes and commercial spaces. Its mortgage product range is comprehensive and includes home loans, loan against property, rent concessions, and developer finance.
Bajaj Housing Finance had 308,693 active customers, of which 81.7 per cent were home loan customers, as of March 31, 2024. 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.
Bajaj Housing Finance has reserved shares worth Rs 200 crore for the eligible employees of the company, while shares worth Rs 500 crore shall be reserved for eligible shareholders of Bajaj Finance and Bajaj Finserv. Of the net offer, 50 per cent shares will be allocated for qualified institutional bidders, while NII and retail investors will get 15 per cent and 35 per cent of the net offer.
Bajaj Housing Finance reported a net profit of Rs 482.61 crore with a revenue of Rs 2,208.73 crore for the three months ended on June 30 2024. Its net profit came in at Rs 1,731.22 crore with a revenue of Rs 7,617.71 crore for the financial year ended on March 31, 2024.
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. Shares of the company shall be listed on both BSE and NSE likely on September 16, Monday.
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