The price band for the IPO has been fixed at Rs 66-70 per share.
Promoted by Bajaj Finance and Bajaj Finserv, the company is targeting an IPO of Rs. 6,560 crore to be raised, including fresh equity sale of Rs. 3,560 crore and for sale Rs. 3,000 crore in the Offer (OFS).
Ahead of the public issue, Bajaj Housing Finance raised Rs. 1,758 crores, per share Rs. 70 has allocated shares, which is the upper end of the price band. Anchor investors include prominent names such as the Government of Singapore, ADIA, Fidelity, Invesco, HSBC, Morgan Stanley, Nomura and JP Morgan.
The net proceeds from the IPO will strengthen the company’s capital base to support future business expansion, particularly in further financing.
Bajaj Housing Finance is a non deposit taking HFC registered with National Housing Bank since September 2015, offering tailored financial solutions for purchase and renovation of residential and commercial properties.
It is recognized and classified as a top tier NBFC by the RBI in India and its wide range of mortgage products include home loans, loans against property, lease rental discounting and developer financing.
The company focuses primarily on individual retail housing loans, supported by a diverse range of commercial and developer loans, serving clients ranging from home buyers to large developers.
For the financial year 2023-24, the housing lender has raised Rs. 1,731 crore in net profit, up from Rs. 1,258 crores showing a growth of 38%.
Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities are book running lead managers of the issue.
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