Bajaj Housing Finance, a subsidiary of Bajaj Finance, is reportedly aiming for a valuation between ₹56,000 crore and ₹59,000 crore for its forthcoming IPO. 

What Happened: The company is likely to launch the IPO in September at a reduced issue size, according to Moneycontrol. This IPO will mark the re-entry of the Bajaj Group into the public markets after a significant hiatus. 

The firm had submitted draft papers to the Securities and Exchange Board of India (SEBI) for a ₹7,000 crore IPO in June, which comprised new shares worth ₹4,000 crore and a ₹3,000 crore offer for sale by its parent. The market regulator gave its approval for the IPO earlier this month.

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However, the issue size is now expected to be scaled down to between ₹6,300 crore and ₹6,600 crore. The decision to list the shares is in line with the Reserve Bank of India’s (RBI) mandate for “upper layer” non-banking financial companies (NBFCs) to list within three years of notification.

Bajaj Housing Finance, a diversified NBFC, serves over 76.5 million customers across India. The funds raised from the fresh issue will be utilised to augment its capital base to meet future business requirements and cover offer expenses.

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