Bajaj Housing Finance IPO Opens Today, Offers Opportunity to Invest with Just ₹15,000
The Bajaj Group, one of India’s oldest business conglomerates, has launched the initial public offering (IPO) of its housing finance company, Bajaj Housing Finance, today. The company aims to raise over ₹6,500 crore through this issue, providing an excellent opportunity for investors to participate in the growth of this major player in the housing finance sector.
Investors can apply for the Bajaj Housing Finance IPO until September 11, 2024. The issue size is ₹6,560 crore, and the company will seek bids for a total of 937,142,858 shares with a face value of ₹10 each. Bajaj Housing Finance will issue 508,571,429 fresh shares worth ₹3,560 crore, while 428,571,429 shares worth ₹3,000 crore will be offered for sale (OFS) by the parent company, Bajaj Finance.
Subscription Status and Anchor Investor Participation
By noon on September 9, the first day of subscription, the IPO had already been subscribed nearly 0.50 times, with the non-institutional investor (NII) category being subscribed over 100%. Last week, on Friday, the Bajaj Housing Finance IPO was opened for anchor investors and received an overwhelming response. The company has raised ₹1,758 crore from anchor investors, including major names such as the Singapore government, ADIA, Fidelity, Invesco, HSBC, Morgan Stanley, Nomura, and JP Morgan.
Investing with Just ₹15,000
Bajaj Housing Finance has set a price band of ₹66 to ₹70 per share for the IPO, and the lot size is 214 shares. This means that investors must bid for a minimum of 214 shares.At the upper price band, a minimum investment of ₹14,980 will be required for one lot. An investor can bid for a maximum of 13 lots in this IPO, which would require an investment of ₹1,94,740 for 2,782 shares. If the IPO is successful, the potential gains for investors will be assured.
Listing and Company Details
After the closing on September 11, the share allotment process will take place on September 12, and the refund process will be initiated on September 13. Investors’ demat accounts will start receiving the allotted shares from September 13 onwards. The company has set September 16, 2024, as the tentative date for the listing of its shares on the BSE and NSE.
Bajaj Housing Finance was established in 2008 and registered with the National Housing Bank (NHB) in 2015. It began offering mortgage loans or loans against properties in 2018. As of March 31, 2024, Bajaj Housing Finance had 308,693 active customers, with 81.7% being home loan borrowers. The company has a vast network of 215 branches across 174 locations in 20 states and three union territories.
Note: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
