Cash News
The ₹6,560 crore IPO opens for subscription on Monday, September 9, 2024 and will close on Wednesday, September 11, 2024.
At the upper end of the price band, the company will have a post-issue market capitalisation of ₹58,297 crore.
The IPO comprises of a fresh issue of shares worth ₹3,560 crore, while Bajaj Finance, the parent company, will sell shares worth ₹3,000 crore through the Offer for Sale component.
Half of the offer size or nearly ₹2,930 crore has been reserved for Qualified Institutional Bidders (QIBs), while 15% of the IPO or shares worth ₹879 crore have been earmarked for Non-Institutional Investors (NIIs).
For retail investors, Bajaj Housing Finance has reserved 35% of the issue size or shares worth ₹2,051 crore.
Retail investors can bid for one lot of 214 shares, which will entail a minimum investment of ₹14,980. They can then bid in multiples of 214 shares thereafter.
Additionally, shares worth ₹200 crore are reserved for employees of Bajaj Housing Finance, while those worth ₹500 crore are reserved for employees of Bajaj Finance and Bajaj Finserv.
Axis Capital, Kotak Mahindra Capital, BofA Securities, Goldman Sachs, SBI Capital Markets, JM Financial and IIFL Securities are the Book Running Lead Managers for the IPO.
Allotment of Bajaj Housing Finance’s shares are likely to take place on September 12, while the listing of shares on the BSE and NSE is likely to take place on September 16, 2024.