Bajaj Housing Finance's ₹6,560 Crore IPO Opens Today

9 Sep 2024 , 12:14 PM

Bajaj Housing Finance’s IPO opened for public subscription on September 9. The total size of the IPO is ₹6,560 Crore, with a price band set between ₹66-₹70 per share.

At the time of writing on the first day of subscription, the IPO was subscribed 0.51 times. Non-institutional investors subscribed to 1.05 times, and retail individual investors (RIIs) subscribed 0.57 times. 

The IPO is available for subscription between September 9 and September 11. Share allotment is expected to be finalized on September 12, and shares will be listed on BSE and NSE on September 16.

50% of the IPO is reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for high-net-worth individuals (HNIs).

A shareholder quota of ₹500 Crore is reserved for eligible shareholders of Bajaj Finance and Bajaj Finserv.

The company raised ₹1,758 Crore from anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley, Fidelity, and others.

The IPO includes a fresh issue of ₹3,560 Crore and an Offer for Sale (OFS) of ₹3,000 Crore by parent company Bajaj Finance. The funds raised will be used to strengthen the company’s capital base to meet future needs.

Bajaj Housing Finance offers financial solutions, including home loans, loans against property, and developer financing, and has been identified as an upper-layer NBFC by the RBI. The company posted a net profit of ₹1,731 Crore for FY24, marking a 38% growth from the previous year.