Bajaj Group is set to launch its third company on the stock market soon.
The price band for the Bajaj Housing Finance IPO, scheduled to open next week, has been announced.
This announcement has provided clarity for investors, who now know how much money they’ll need to bid in this IPO.
Existing Bajaj Group Shares in the Market
Before Bajaj Housing Finance, the Bajaj Group already has two companies listed in the stock market: Bajaj Finance and Bajaj Finserv.
Both are among the largest shares in India and are part of the Sensex index.
Now, Bajaj Housing Finance is preparing for its IPO, with Bajaj Finance and Bajaj Finserv as its promoters.
IPO Details: Price, Size, and Important Dates
The company has set the price band for its shares in the IPO at Rs 66-70.
Each lot will consist of 214 shares, meaning investors will need a minimum of Rs 14,980 to participate. Retail investors can bid for up to 13 lots, totaling Rs 1,94,740.
This IPO is sizable, with a total value of Rs 6,560 crore.
It includes a fresh issue of shares worth Rs 3,560 crore and an offer for sale of Rs 3,000 crore.
The IPO will open for subscription on September 9 and close on September 11.
Shares will be credited to investors’ accounts on September 13, with the market listing set for September 16.
About Bajaj Housing Finance
Bajaj Housing Finance, registered with the National Housing Bank since 2015, is a Housing Finance Company (HFC).
It provides financial solutions for purchasing or renovating residential or commercial properties.
Allocation for Investors
In this IPO, 50% of the shares are reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors.
The IPO is managed by a group of book-running lead managers, including Kotak Mahindra Capital, BofA Securities,
Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities.
