New Delhi:
Bajaj Housing Finance, a prominent arm of the Bajaj Group, is gearing up for a significant milestone in the equity capital markets with plans for a blockbuster IPO within the next 12-18 months.
The company has selected a formidable lineup of investment banks to advise on this high-profile offering,
marking the return of Bajaj Group to the public markets after a hiatus.
Advisors Chosen
Kotak Mahindra Capital, Axis Capital, BofA Securities, JM Financial, and SBI Capital have been appointed as advisors for the IPO, according to sources familiar with the matter.
The selection of these renowned institutions underscores the strategic approach towards executing this monumental deal.
Target Valuation and Fundraising
The IPO is set to target a valuation ranging between $9 billion and $10 billion, with plans to raise $900 million to $1 billion.
While the specifics may evolve based on market dynamics, the groundwork has commenced in earnest.
Regulatory Compliance and Listing Mandate
In alignment with regulatory requirements, Bajaj Housing Finance has announced its intention to pursue a mandatory listing, as mandated by the rules applicable to NBFC – Upper Layer companies.
A crucial meeting is scheduled for April 24, 2024, to deliberate on various aspects, including the listing imperative.
RBI Directive and Market Performance
This strategic move by Bajaj Housing Finance aligns with the Reserve Bank of India’s directive, necessitating the listing of NBFCs within three years of notification.
The surge in share prices of parent companies Bajaj Finance and Bajaj Finserv reflects market anticipation and confidence in the group’s trajectory.
Serving Millions Nationwide
With a robust customer base exceeding 76.5 million, Bajaj Housing Finance stands as a diversified NBFC catering to diverse financing needs across the country.
Headquartered in Pune, the company extends financial solutions to individuals and corporate entities for property acquisition and renovation projects.
As Bajaj Housing Finance embarks on this transformative journey,
investors and stakeholders anticipate significant value creation and market resonance with the forthcoming IPO.
