Bajaj Housing Finance Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

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Bajaj Housing Finance Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

September 06, 2024
Bajaj Housing Finance Ltd IPO Opens On September 09. Check IPO Details Issue Date Price

Bajaj Housing Finance Limited is coming out with an initial public offer to raise Rs. 6560 crores from the market.

Below are the details of the Bajaj Housing Finance Limited IPO:

  • Issue opens – September 09 (Monday)
  • Issue closes – September 11 (Wednesday)
  • Issue size – Rs. 6560 crores
  • Price band – Rs. 66 to 70 per equity share
  • Bid lot – 214 shares and in multiples thereof.

And here are some details of the company and further details on the IPO.

Company Details:

  • Incorporated on June 13, 2008, Bajaj Housing Finance Ltd (“BHFL”), the part of Bajaj group, is a non-deposit taking Housing Finance Company (“HFC”), registered with the National Housing Bank since September 24, 2015, and engaged in mortgage lending since Fiscal 2018. BHFL have been identified and categorized as an “Upper Layer” NBFC ("NBFC-UL”) in India by the RBI since September 30, 2022.
  • BHFL offers financial solutions tailored to individuals and corporate entities for the purchase and renovation of homes and commercial spaces. Their mortgage product suite is comprehensive and comprises of Home loans , Loans against property (“LAP”); Lease rental discounting; and Developer financing.
  • BHFL is the 2nd largest HFC with AUM of ? 97,071.33 crore as at June 30, 2024 and fastest growing HFC with CAGR of 29.3% between Fiscal 2020 and Fiscal 2024.
  • BHFL is the largest non-deposit taking HFC (in terms of AUM) in India with, in 7 years of commencing mortgage operation. BHFL also has the highest total income CAGR growth of 30.3% between Fiscal 2020 and Fiscal 2024.
  • Company’s strategic focus is on low risk and fast-growing home loan customers and as at March 31, 2024, home loans contributed 57.8% of their AUM, of which 87.5% pertained to salaried customers, 4.3% self-employed professional customers and 8.2% self-employed non-professional customers.
  • The company has a network of 215 branches as at June 30, 2024, spread across 174 locations in 20 states and 3 union territories, which are overseen by 6 centralized hubs for retail underwriting and 7 centralized processing hubs for loan processing.
  • BHFL’s Gross Non-Performing Assets (“GNPA”) ratio and Net Non-Performing Assets (“NNPA”) ratio had been at 0.28% and 0.11%, respectively, as at June 30, 2024.
  • BHFL has the highest possible credit ratings in India for both the long term (CRISIL AAA/stable and IND AAA/stable) as well as short term (CRISIL A1+ and IND A1+) borrowings programme.

Issue Size : Rs. 6560 Crores

Employee Reservation: Equity shares aggregating up to Rs. 200/- crs

Shareholders of Bajaj Finance Limited (BFL) & Bajaj Finserv Limited (BFS) Reservation: Equity shares aggregating up to Rs. 500/- crs

Issue break-up :

QIB – 50% of the net offer – Rs. 2930 Cr.
NIB – 15 % of the net offer – Rs. 879 Cr.
RET – 35% of the net offer – Rs. 2051 Cr.

Listing : BSE & NSE

Registrar : KFin Technologies Limited

UPI : All Retail & NII Bidders (bids up to Rs. 5,00,000) Applications through brokers are compulsorily in UPI Mode

Note:

Application made using third party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs. 5,00,000) shall expire at 5:00 PM on the closing day of the IPO i.e., Wednesday, September 11th, 2024.

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