The IPO price has been fixed at Rs 66-70 per share.
Promoted by Bajaj Finance and Bajaj FinservThe company aims to raise Rs 6,560 crore through the IPO, which includes Rs 3,560 crore from fresh equity sales and an offer for sale (OFS) of Rs 3,000 crore.
Before the public issue, Bajaj Housing financing It has raised Rs 1,758 crore from marquee investors, allocating shares at Rs 70 per share, the top price band. Marquee investors include marquee names like the Government of Singapore, ADIA, Fidelity, Invesco, HSBC, Morgan Stanley, Nomura and JP Morgan.
The net proceeds from the IPO will strengthen the company’s capital base to support future business expansion, particularly in future lending. Bajaj Housing Finance is a non-deposit taking HFC registered with the National Housing Bank since September 2015, offering customized financial solutions for purchase and renovation of residential and commercial properties. It has also been identified and categorized as a Top Layer NBFC by the RBI in India and its comprehensive mortgage products include home loans, loans against property, lease rental discount and developer finance. The company primarily focuses on individual retail housing loans, backed by a wide range of commercial and developer loans, catering to customers from home buyers to large developers.
For the fiscal year 2023-24, the housing lender posted a net profit of Rs 1,731 crore, marking a growth of 38% from Rs 1,258 crore in FY23.
Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financialand IIFL Values Are books what lead managers to the question?
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