Bajaj Housing Finance IPO: Bajaj Housing Finance’s IPO is opening for investment from tomorrow i.e. 9 September. Investors can invest in this issue till 11 September. The price band for Bajaj Housing Finance IPO has been fixed at Rs 66-70 per share. This IPO is worth Rs 6,560 crore. This issue was open for big (anchor) investors on 6 September. The proposed IPO includes new shares worth up to Rs 3,560 crore and a sale offer (OFS) of shares worth Rs 3,000 crore of parent company Bajaj Finance.
what is the detail
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 needs. Bajaj Housing Finance is a housing finance company registered with the National Housing Bank since September 2015.
What is going on GMP?
According to Investorgain.com, Bajaj Housing Finance IPO is available at a 76% premium in the grey market. The company’s shares are trading at a premium of Rs 53 in the grey market. This means that the company’s shares can potentially be listed at Rs 123 and lucky investors can make a huge profit of 75.71% on the very first day. Let us tell you that the possible listing date of the company’s shares is 16 September.
Many big NBFCs are expected to bring IPOs
At least three more “high-end” non-banking financial companies (NBFCs) are expected to be listed within a year after Bajaj Housing Finance’s IPO. These NBFCs will have to launch IPOs to meet RBI’s mandatory listing requirement. Investment bankers said Tata Capital Financial Services, HDB Financial Services (the NBFC arm of HDFC Bank) and Aditya Birla Finance are the three NBFCs likely to launch IPOs.
Sachin Mehta, Investment Banking Director, Anand Rathi Advisors, said, “Given the demand for good quality businesses in the capital markets and subject to valuations, we will certainly see many NBFCs getting listed. This is expected… not only to meet RBI’s listing requirement, but also because it will also preserve the company’s ability to raise funds for its growth once it is listed.”
