Bajaj Housing Finance has set aside equity shares aggregating to ₹500 crore.
Bajaj Housing Finance Limited has opened its initial public offering (IPO) for bidding from today i.e. 9 September. Bajaj Housing Finance has said that it has received ₹1,758 crore from anchor investors ahead of launching its first public share-sale for public subscription. The last date for bidding in Bajaj Housing Finance IPO is 11 September 2024. The price band for Bajaj Housing Finance IPO has been fixed at ₹66 to ₹70 per share for this offer.
How many shares are reserved for whom
According to the news, Bajaj Housing Finance IPO has set aside up to 50% of the shares in the public issue for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and a minimum of 35% of the offer for retail investors. Under the shareholders’ quota, Bajaj Housing Finance has set aside equity shares worth up to ₹500 crore in total. This section is reserved for individuals and Hindu Undivided Families (HUFs) who hold public shares in the company’s promoters.
How much was the IPO subscribed today
Bajaj Housing Finance is a non-deposit housing finance company, providing mortgage loans since financial year 2018. Operated by Bajaj Finserv Limited and Bajaj Finance Limited, Bajaj Housing Finance is a subsidiary of Bajaj Group. Bajaj Housing Finance is a wholly-owned subsidiary of Bajaj Finance. In Bajaj Finance, Bajaj Finserv holds 51.34% stake. According to a Livemint report, the company’s IPO has been subscribed 71 per cent till 12:36 pm today on the first day. According to BSE data, the initial share sale received bids for 51,72,51,696 shares against 72,75,75,756 shares.
About IPO
The Bajaj Housing Finance IPO comprises an offer for sale (OFS) of equity shares aggregating to ₹3,000 crore by parent company Bajaj Finance and a fresh issue of equity shares aggregating to ₹3,560 crore. The share offering is aimed at meeting the Reserve Bank of India’s (RBI) directive for high-level non-banking financial organisations (NBFCs) to get listed on stock exchanges by September 2025. To meet its future capital requirements, the firm will use the proceeds from the fresh offering to expand its capital base.
Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited, IIFL Securities Limited and Kotak Mahindra Capital Company Limited are the Book Running Lead Managers to the Offering.
What is GMP today?
Bajaj Housing Finance IPO GMP today is +56. This indicates that the Bajaj Housing Finance share price was trading at a premium of ₹56 in the grey market. Considering the upper end of the IPO price band and the existing premium in the grey market, the estimated listing price of Bajaj Housing Finance shares was quoted at ₹126 per share, indicating an 80% increase from the IPO price of ₹70.
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