The public issue of Bajaj Housing Finance, a diversified Non-Banking Financial Company (NBFC), will open for investment on September 9 and close on September 11.
Anchor investors can start bidding on September 6.
Bajaj Housing Finance, a wholly owned subsidiary of Bajaj Finance, is set to make its market debut after several years, sparking great interest among investors.
Timeline for the IPO
IPO Opening Date: September 9, 2024
IPO Closing Date: September 11, 2024
Anchor Investor Bidding: September 6, 2024
Allotment Finalization: September 12, 2024
Listing Date on BSE and NSE: September 16, 2024
The IPO will be managed by several leading financial firms, including Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, JM Financial, IIFL Securities, Goldman Sachs India Securities, and SBI Capital Markets.
Cyril Amarchand Mangaldas serves as the legal advisor, and KFin Technologies is the registrar for the IPO.
IPO Structure: New Shares and Offer for Sale
As per the Red Herring Prospectus (RHP), the total size of the IPO is ₹6,560 crore, which includes the issuance of new shares worth ₹3,560 crore and an Offer for Sale (OFS) of ₹3,000 crore.
The IPO will allocate 50% of shares for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
The price band details will be announced on September 3, 2024.
Utilization of IPO Proceeds
Bajaj Housing Finance provides financing solutions for the purchase and renovation of residential and commercial properties to both individual and corporate clients. As of FY24, the company’s assets under management (AUM) stood at ₹91,370 crore.
The funds raised through the issuance of new shares in the IPO will be used to enhance the company’s capital base.
The Securities and Exchange Board of India (SEBI) approved the IPO in early August 2024.
This IPO marks an important milestone for the Bajaj Group and is eagerly anticipated by investors looking for new opportunities in the housing finance sector.
