IPO
Bajaj Housing Finance’s initial public offering (IPO) will come on September 9. The company is bringing an IPO worth a total of Rs 6,560 crore. According to the housing finance company’s prospectus (RHP), the IPO will close on September 11. Anchor i.e. big investors will be able to bid on September 6, a day before the issue opens. The proposed IPO includes fresh equity shares worth up to Rs 3,560 crore and an offer for sale (OFS) of equity shares worth Rs 3,000 crore of parent company Bajaj Finance.
That’s why shares are being sold
The share sale is being done to comply with the rules of the Reserve Bank of India (RBI). Under this, upper level non-banking financial companies (NBFCs) are required to be listed on the stock markets by September 2025. The proceeds from the new issue will be used to increase the capital base of the company as well as to meet future capital requirements. Bajaj Housing Finance is a housing finance company registered with the National Housing Bank since September 2015. It does not take deposits and provides loans for the purchase and renovation of residential and commercial properties. It has been identified and classified by the RBI as an ‘upper level’ NBFC in India.
Profit of Rs 1,731 crore
The company earned a net profit of Rs 1,731 crore in FY 2023-24. This is 38 percent more than Rs 1,258 crore in FY 2022-23. Aadhar Housing Finance and India Shelter Finance are two housing finance companies that have been listed on the stock exchanges in recent months. Bajaj Housing Finance had filed a prospectus with SEBI for an IPO of Rs 7,000 crore in June. The market regulator approved the company’s first public offering earlier this month. Bhasha Raman Pandey Pandey 0109 1339 Delhi Nannan
Latest Business News
