Business News Desk, NBFC Bajaj Housing Finance’s IPO has been awaited for a long time. Now this wait is going to end as the IPO dates have been revealed. This public issue will open on 9 September and close on 11 September. This has come to light from the company’s Red Herring Prospectus (RHP). Bajaj Group is bringing an IPO of one of its companies after years. The size of the IPO will be Rs 6,560 crore. In this, new shares worth Rs 3,560 crore will be issued, along with an Offer for Sale (OFS) of Rs 3,000 crore. According to the RHP filing, the details of the price band will be released on September 3. Anchor investors will be able to bid in the IPO on September 6.
Bajaj Housing Finance had filed draft papers in June
In June this year, Bajaj Housing Finance filed draft papers with capital market regulator SEBI for an IPO of Rs 7,000 crore. Under the IPO, it was said that there would be a fresh issuance of shares worth Rs 4,000 crore and an offer for sale of Rs 3,000 crore. SEBI gave its approval to the IPO in early August. Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, JM Financial, IIFL Securities, Goldman Sachs India Securities and SBI Capital Markets are the book-running lead managers for the Bajaj Housing Finance IPO. Cyril Amarchand Mangaldas is the legal advisor. KFin Technologies is the registrar.
AUM of Rs 91,370 crore
Bajaj Housing Finance is a diversified NBFC. It offers finance to individuals as well as corporate entities for the purchase and renovation of home or commercial space. The assets and management of Bajaj Housing Finance stood at Rs 91,370 crore in FY 2024. The company will also use the proceeds from issuing new shares in its IPO to increase its capital base. Its net profit jumped 5% year-on-year to Rs 483 crore in the first quarter of the current financial year 2024-25, April-June 2024.
