Bajaj Housing Finance IPO: GMP suggests blockbuster listing potential with 80% return
This translates to a premium of nearly 80% over the issue price, indicating strong demand for the IPO.
The company, promoted by Bajaj Finance and Bajaj Finserv, is bringing the IPO with a combination of Rs 3,560 crore worth of fresh equity sale and an offer for sale (OFS) of Rs 3,000 crore.
In the IPO, about 50% of the offer is reserved for qualified institutional buyers (QIB), 15% for non-institutional investors, and the rest 35% for retail investors.
The public offer includes a reservation of equity shares for subscription by eligible employees and a reservation for subscription by eligible shareholders of promoters, including individuals and HUFs who are public equity shareholders.
Net proceeds from the public offer will be used to augment the company’s capital base to meet future business requirements of the company towards onward lending.
Bajaj Housing Finance is a non-deposit-taking HFC registered with the National Housing Bank since September 2015, offering tailored financial solutions for purchasing and renovating residential and commercial properties.
It has also been identified and categorized as an upper-layer NBFC by the RBI in India and its comprehensive mortgage products include home loans, loans against property, lease rental discounting, and developer financing.
The company primarily focuses on individual retail housing loans, supported by a diverse range of commercial and developer loans, serving customers from homebuyers to large developers.
Also Read: Bajaj Housing Finance announces Rs
