Bajaj Housing Finance Board to launch OFS worth ₹3,000 Crore

7 Jun 2024 , 03:12 PM

Bajaj Finance, a non-banking financing company (NBFC), plans to sell ₹3,000 Crore in shares of its housing finance subsidiary, Bajaj Housing Finance, during its upcoming IPO.

This is subject to market conditions and the receipt of applicable approvals, including those from the Securities and Exchange Board of India (SEBI), the BSE Limited, the National Stock Exchange of India Limited, and any other regulatory authority,” the company stated in a regulatory filing on Friday, June 7.

On June 6, Bajaj Finance announced that Bajaj Housing Finance’s board has approved an IPO with a fresh share issue to raise up to ₹4,000 crore.

The plan outlines to raise ₹4,000 Crore through a fresh issue and offer-for-sale (OFS) component. Existing shareholders will sell their shares as part of the initial public offering.

Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance. Bajaj Finserv owns a 51.34% share in Bajaj Finance.

As of March 31, this year, the mortgage lender manages assets of up to ₹91,370 Crore, making it an upper-layer NBFC under the RBI’s scale-based regulatory standards.

Earlier in September 2022, the banking regulator identified 15 NBFCs with loan books over ₹50,000 Crore, placing them on the higher layer.

The central bank regulations required the company to list its shares on the exchanges by September 2025.

For feedback and suggestions, write to us at [e-mail]

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/