The board of Bajaj Housing Finance has approved an initial public offering comprising a fresh issue of equity shares of up to Rs 4,000 crore, and an offer for sale of shares subject to market conditions. The shares are priced at Rs 10 each.
The IPO would subject to market conditions, receipt of applicable approvals, regulatory clearances and other considerations.
In September 2022, RBI had released a list of upper layer NBFCs or entities with Rs 50,000 crore of assets under management. Bajaj Housing Finance, which was part of the RBI list was required to be listed on stock exchanges by September 2025.
Once an NBFC is classified as NBFC-UL, it shall be subject to enhanced regulatory requirement, at least for a period of five years from its classification in the layer, even in case it does not meet the parametric criteria in the subsequent years
Apart from Bajaj Housing Finance, latest upper layer list also includes 14 other entities like Tata Sons, HDB Financial Services, and Tata Capital Financial Services.
Bajaj Housing Finance is a subsidiary of Bajaj Finance. The assets under management of the housing finance company rose 32% year-on-year(y-o-y) to Rs 91,370 crore as on March 31.