Mumbai :
Bajaj Housing Finance is preparing for an Initial Public Offering (IPO) that could launch as early as September this year.
The company aims for a post-money valuation between ₹56,000 crore and ₹59,000 crore.
This would be Bajaj Group’s first IPO in years, with Bajaj Housing Finance being a wholly owned subsidiary of the publicly listed Bajaj Finance.
IPO Details and Timeline
Industry sources suggest that the public issue might occur within the first 15 days of September, although the exact timing is still to be finalized.
In June 2024, Bajaj Housing Finance filed draft papers with SEBI for a ₹7,000 crore IPO.
The offering will include a fresh issuance of shares worth ₹4,000 crore and an offer for sale amounting to ₹3,000 crore.
SEBI approved the IPO in early August, but the final size of the IPO could be adjusted to between ₹6,300 crore and ₹6,600 crore.
Regulatory and Financial Overview
Bajaj Housing Finance is categorized as an upper layer Non-Banking Financial Company (NBFC) by the Reserve Bank of India (RBI).
As per RBI regulations, such companies must be listed on the stock market within three years of being classified as upper layer NBFCs.
For Bajaj Housing Finance, the deadline is September 2025, following its notification on September 30, 2022.
Financial Performance and Use of Proceeds
As of FY 2024, Bajaj Housing Finance reported assets under management (AUM) of ₹91,370 crore.
The company serves over 7.65 crore customers, offering financing for home and commercial space purchases and renovations.
The IPO proceeds will be used to strengthen its capital base.
The company’s net profit for Q1 FY 2024-25, covering April to June 2024, increased by 5% year-on-year, reaching ₹483 crore.
