Bajaj Housing Finance announces Rs 66-70 price band for Rs 6,560 crore IPO. Check details
Bajaj Finance and Bajaj Finserv the Rs 6,560 crore initial public offering (IPO) of Bajaj Housing Finance will hit the Street on September 9 and has announced a price band of Rs 66-70 for the same.
The bids can be made for a minimum quantity of 214 shares and in multiples of 214 thereafter.
Anchor book for the issue will open on Friday, September 6 while the issue will close for bids on September 11.
The IPO consists of a fresh issue of equity shares aggregating up to Rs 3,560 crore and an Offer for Sale (OFS) of Rs 3,000 crore.
Under the offer for sale component, promoter Bajaj Finance will divest equity amounting to Rs 3,000 crore.
The offer will be made through a book-building process and not more than 50% of the issue will be allocated to the Qualified Institutional Buyers (QIBs), at least 15% is reserved for the Non-Institutional Investors (NII), and at least 35% for the retail investors.
Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank since September 2015. The company offers customized financial solutions for purchasing and renovating residential and commercial properties.
The company primarily focuses on individual retail housing loans, complemented by a diverse range of commercial and developer loans. It serves a broad spectrum of customers, from homebuyers to large developers.
For the fiscal year 2023-24, the housing lender reported a net profit of Rs 1,731 crore, reflecting a growth of 38% compared to Rs 1,258 crore in FY23.
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