September 3, 2024
New Delhi, India
Bajaj Housing Finance, a prominent non-deposit-taking housing finance company, is set to launch its initial public offering (IPO) on Monday, September 9. The company aims to raise ₹6,560 crore, comprising a fresh share sale worth ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by its promoter, Bajaj Finance Ltd.
IPO Details:
- Price Range: Shares will be offered in a price range of ₹66-70 each.
- Bidding Period: Opens on September 9 and closes on September 11.
- Minimum Application: Investors must apply for a minimum of 214 equity shares and in multiples thereafter.
- Anchor Book: Opens on Friday, September 6.
Company Overview:
Founded in 2008 and part of the Bajaj Group, Bajaj Housing Finance is registered with the National Housing Bank (NHB) and has been offering mortgage loans since 2018. The company provides customized financial solutions, including home loans, loans against property, rent concessions, and developer finance. As of March 31, 2024, Bajaj Housing Finance had 308,693 active customers, with 81.7% being home loan clients.
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Key Financials and Branch Network:
- Net Profit: Reported ₹482.61 crore for the quarter ending June 30, 2024.
- Revenue: Stood at ₹2,208.73 crore for Q1 FY24 and ₹7,617.71 crore for the financial year ending March 31, 2024.
- Branch Network: Operates 215 branches in 174 locations across 20 states and three union territories.
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Share Reservation and Allocation:
- Employee Reservation: ₹200 crore reserved for eligible employees.
- Shareholder Reservation: ₹500 crore reserved for eligible shareholders of Bajaj Finance and Bajaj Finserv.
- Net Offer Allocation: 50% for Qualified Institutional Bidders (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.
Lead Managers and Listing:
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 for the IPO. Kfin Technologies is the registrar. The shares will be listed on both BSE and NSE, with the listing likely to occur on Monday, September 16.
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