Bajaj Housing Finance IPO Closes Today

11 Sep 2024 , 11:58 AM

Bajaj Housing Finance’s IPO which opened on September 9, 2024 is closing today on September 11. The price range for the ₹6,560-Crore IPO is set at ₹66 to ₹70 per share.

As of 11:51 am on the final day, Non-institutional investor category received 25.56 times subscription; retail individual investors (RIIs) category was subscribed 5.40 times; and the QIB category saw 31.84 times subscription.

IPO opened for subscription on September 9; share allotment expected on September 12, and shares to be listed on BSE and NSE on September 16.

50% of the IPO is reserved for qualified institutional buyers (QIB), 35% for retail investors, and 15% for high-net-worth individuals.

₹500 Crore worth of shares reserved under shareholder quota for eligible shareholders of Bajaj Finance Limited and Bajaj Finserv Limited as of August 30, 2024.

The company raised ₹1,758 Crore from anchor investors, including Government of Singapore, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, and others. 25.11 Crore equity shares allotted to 104 funds at ₹70 per share, aggregating ₹1,758 Crore.

The IPO includes a fresh issue of ₹3,560 Crore and an offer-for-sale (OFS) of ₹3,000 Crore by Bajaj Finance. Funds from the fresh issue will boost Bajaj Housing Finance’s capital base for future needs.

Bajaj Housing Finance, registered with the National Housing Bank, offers mortgage solutions like home loans, loans against property, and developer financing. For FY24, the company posted a net profit of ₹1,731 Crore, a 38% growth from ₹1,258 Crore in FY23. Kotak Mahindra Capital, BofA Securities, SBI Capital, Goldman Sachs, and JM Financial are managing the IPO.