Bajaj Housing Finance IPO Highlights: Bajaj Housing Finance IPO will likely be listed on NSE and BSE on September 16. The Initial Public Offering (IPO) opened on September 9 and continued till September 11, 2024. With shares priced between Rs 66 and Rs 70, this IPO presents an attractive opportunity for investors. The issue includes a minimum bid lot size of 214 shares and aims to raise Rs 7,000 crore, with Rs 4,000 crore from fresh equity and Rs 3,000 crore from existing shareholders’ sales. The company’s shares were fetching a premium of more than 105% in the grey market.
Bajaj Housing Finance IPO 2024 Highlights: See Listing Date, KFintech Allotment Status, and GMP live
Thoe face value of Bajaj Housing Finance IPO is Rs 10 per share.
The trading will commence on September 16 at 10 AM.
The grey market premium (GMP) of Bajaj Housing Finance has increased noticeably. The company was requesting a premium of Rs 75 per share as of the most recent hearing, suggesting a possible 104% increase in the listing price for investors. When the auction was over, it was roughly Rs 70 for each, nevertheless.
September 9, 2024, was the opening day of the Bajaj Housing Finance Initial Public Offering (IPO), which ended on September 11, 2024. With an average loan value of Rs 46 lakhs, Bajaj Housing Finance is a non-deposit taking Non-Banking Financial Company (NBFC) that specialises in housing loans.
The book-running lead managers for the offer are Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, Axis Capital and JM Financial Ltd.
Bajaj Housing Finance Ltd's Rs 6,560-crore initial public offering (IPO) was oversubscribed by 63.60 times on Wednesday, the final day of bidding, due to strong interest from institutional investors. As per NSE data, the IPO received bids for 4,62,74,83,432 shares, compared to the 7,27,57,756 shares available.
Bajaj Housing Finance reported total borrowings of ₹62,129 crores and revenue of Rs 7,617.71 crores. For FY24, the profit after tax (PAT) was Rs 1,731.22 crores, with reserves and surplus amounting to Rs 5,520.81 crores. The company's assets for the fiscal year totaled Rs 81,827.09 crores.
Yes, Bajaj Housing Finance is a non-deposit taking Non-Banking Financial Company (NBFC) which specialises in providing home loans with an average size of Rs 46 lakhs.
Rs 7,000 crore is the total amount which Bajaj Housing Finance will raise through its IPO.
The price range of Bajaj Housing Finance share will be between Rs 66 to Rs 70 per share.
Bajaj Housing Finance will list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday.
Bajaj Housing Finance is scheduled to list its shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, September 16. Trading will commence at 10 AM. The initial public offering (IPO) has generated significant interest, with the company's shares priced between Rs 66 and Rs 70 each.
The Bajaj Housing Finance IPO will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The shares will begin trading on September 16, 2024, following the completion of the IPO subscription period.
The issue size of the Bajaj Housing Finance IPO is Rs 6,560 crore. The IPO got fully subscribed within hours of opening for bidding on Monday.
The IPO was heavily oversubscribed, with demand reaching 67.43 times the number of shares offered. The company garnered bids totaling Rs 3.23 lakh crore. Of this, retail investors contributed Rs 15,195.36 crore, resulting in a subscription rate of 7.4 times for the retail segment.
Strongly recommend to Hold it for Long term, says Prashanth Tapse, Senior VP (Research), Mehta Equities.
"Post listing, we recommend conservative investors to choose profit booking, if the listing gain is over and above our expectations, while long term investors can continue holding for long term growth as the sector outlook remains very optimistic given the company's well-positioned business model. We believe housing as a sector will continue to deliver and perform well in the next 3-4 years and Bajaj Housing can tap the opportunity to lead the sector," Tapse says.
Bajaj Housing Finance has demonstrated strong financial performance for FY24. The company reported a Profit After Tax (PAT) of Rs 1,713 crore, marking a significant 37% increase from the previous year. Its Return on Equity (ROE) stands at 15%. The average interest rate for the year is 10.4%, while cash flow from operations is reported at Rs 2,069 crore. Earnings Per Share (EPS) is Rs 2.6.
Bajaj Housing Finance, a non-deposit taking Non-Banking Financial Company (NBFC), specialises in providing home loans with an average size of Rs 4.6 million (Rs 46 lakhs). It predominantly serves salaried individuals, who represent 87.5% of its customer base. Beyond home loans, the company also offers loans against property, commercial property loans, and recently expanded its offerings to include insurance-based products. With over 215 branches and a strong online presence, Bajaj Housing Finance is well-integrated into the financial services market.
The Bajaj Housing Finance Initial Public Offering (IPO) opened on September 9, 2024, and closed on September 11, 2024. As a non-deposit taking Non-Banking Financial Company (NBFC), Bajaj Housing Finance specializes in home loans, with an average loan amount of Rs 4.6 million (Rs 46 lakhs).
Bajaj Housing Finance is set to launch its Initial Public Offering (IPO) with a price band ranging from Rs 66 to Rs 70 per share. Investors will need to bid for a minimum lot size of 214 shares. The company aims to raise a total of Rs 7,000 crore through this IPO.
The prominent investors, including JP Morgan, Morgan Stanley, Nomura, and HDFC Mutual Fund, have invested a substantial Rs 1,758 crores in Bajaj Housing Finance prior to its Initial Public Offering (IPO). These funds will be used to bolster the company's capital base and support its future business needs, primarily focusing on expanding its lending capabilities.
Bajaj Housing Finance will list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) at 10 AM on Monday, September 16. This marks the culmination of its highly anticipated Initial Public Offering (IPO), which has garnered significant investor interest.
The funds raised from this IPO will be used to bolster Bajaj Housing Finance’s capital base, supporting its expansion and improving its competitive stance in the stock market. This capital infusion will underpin the company's growth strategy and drive its future developments.
Bajaj Housing Finance IPO: Key Details
-IPO Dates: September 9 - September 11, 2024
-Price Range: Rs 66 to Rs 70 per share
-Lot Size: Minimum bid of 214 shares
-Total Amount to be Raised: Rs 7,000 crore
-Fresh Equity: Rs 4,000 crore
-Offer for Sale (OFS): Rs 3,000 crore
The Bajaj Housing Finance IPO has set a new benchmark in the market, with bids exceeding Rs 3.2 lakh crore, making it one of the largest ever. The company sought to raise around Rs 6,560 crore through a combination of new shares and an Offer for Sale (OFS). By the end of the subscription period, the IPO was oversubscribed 63.6 times, highlighting strong investor interest. Notably, the non-institutional investor segment saw an overwhelming subscription rate of more than 200 times.
Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) which was founded in 2008. The company has been registered with the National Housing Bank (NHB) since 2015 and has been providing mortgage loans since FY 2018. It is a part of the Bajaj Group.
Bajaj Housing Finance's grey market premium (GMP) has seen a significant increase. As of last hearing, the business was asking a premium of Rs 75 per share, indicating a potential listing price increase for investors of about 104 per cent. However, when the issue had ended the bidding, it was about Rs 70 each.
Prior to the IPO launch, notable investors including JP Morgan, Morgan Stanley, Nomura and HDFC Mutual Fund contributed a total of Rs 1,758 crores to Bajaj Housing Finance.
The aggregate amount of the total IPO that was issued was Rs 6,560 crores. The promoters' offer for sale (OFS) was for Rs 3000 crores, while the fresh issuance was for Rs 3,560 crores. The issue had Rs 500 crores of shareholder quota for Bajaj Finance and Bajaj Finserv.
Compared to the Rs 1,258 crore reported in FY23, Bajaj Housing Finance's net profit in FY24 was Rs 1,731 crore, a 38 per cent increase year-on-year. During the same time period, the net income increased 34 per cent to Rs 7,618 crore.