Bajaj Housing Finance Ltd. is launching a major IPO, offering Rs.6,560 crore (937,142,858 shares). Founded in 2008, this non-deposit-taking Housing Finance Company (HFC) has been a key player in the housing finance market since registering with the National Housing Bank (NHB) in 2015 and beginning mortgage loans in 2018.
As part of the renowned Bajaj Group, Bajaj Housing Finance ltd provides tailored financial solutions for purchasing and renovating residential and commercial properties. With 215 branches across 174 locations in 20 states and three union territories, the company has grown rapidly, becoming the second-largest HFC in India by AUM in just seven years. As of March 31, 2024, 81.7% of its 308,693 active customers were home loan clients.
The Bajaj housing finance share price will run from September 09 to September 11, 2024, with a price band of Rs.66 to Rs.70 per share. The offering includes a fresh issue of Rs.3,560 crore and an Offer for Sale (OFS) of Rs.3,000 crore, with 35% allocated to retail investors, 50% to institutional investors, and 15% to non-institutional investors.
The IPO listing is scheduled for September 16, 2024, on the BSE and NSE. Bajaj Housing Finance Ltd. is the second-most profitable HFC in India, with a robust financial position, including total assets of Rs.88,538.83 crore and total revenue exceeding Rs.2,208.73 crore for the year ending March 31, 2024.