Bajaj Housing Finance IPO :The IPO of Bajaj Housing Finance, the housing finance arm of Bajaj Finance, is coming soon. The company has filed DRHP with market regulator SEBI (Sebi Rules for IPO) for its Rs 7000 crore IPO. According to the information given in this, this IPO of Bajaj Housing Finance will have a fresh issue of shares worth Rs 4000 crore. While shares worth Rs 3000 crore will be sold through Offer for Sale (OFS). The company’s parent company Bajaj Finance will sell shares through OFS.
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Bajaj Housing Finance will use the proceeds from the IPO to increase its capital base to meet future business requirements. A part of the funds raised from the fresh issue will be used to meet the offer expenses. Let us tell you that before this subsidiary of Bajaj Finance, recently two new issues – Blackstone-backed Aadhar Housing Finance and Westbridge-backed India Shelter Finance – have been listed in this segment of the market.
Included in RBI’s list of big NBFCs
In September 2022, the Reserve Bank of India (RBI) released a list of large NBFCs managing assets of more than Rs 500 billion, which also included Bajaj Housing Finance. There are a total of 16 NBFCs in this list including Bajaj Housing Finance, which also includes Tata Sons, HDB Financial Services, Tata Capital Financial Services, Aditya Birla Finance and Sanghvi Finance. As per RBI norms, it is necessary for these companies to be listed on the stock exchanges by September 2025.
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These are the book running lead managers
Kotak Mahindra Capital Company, BofA Securities India Limited, Axis Capital, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets, JM Financial and IIFL Securities will be the book running lead managers for this issue. KFin Technologies is the registrar for this issue.
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Bajaj Housing Finance: Over 7.65 crore customers
Bajaj Housing Finance is a diversified NBFC. According to the company’s website, Bajaj Housing Finance has a total of more than 7.65 crore customers in the country. The company is headquartered in Pune and also provides loans to individuals and corporate entities for the purchase and renovation of homes and commercial properties. Apart from this, the company also provides loans against property to individuals and businessmen for personal needs or working capital or expansion related needs of the business.
The company also finances developers who construct residential and commercial properties. During the 9 months ended December 31, 2023, Bajaj Housing Finance’s assets under management (AUM) stood at Rs 85,929 crore, which is 31 per cent higher than the same period last year. During the same period, the company’s disbursement also increased by 31 per cent to Rs 25,308 crore and net profit increased by 41 per cent to Rs 1350 crore.