Bajaj Housing Finance IPO, aimed at raising ₹6,560 crores, comprises a fresh issue of 50.86 crore shares amounting to ₹3,560 crores and an offer for sale of 42.86 crore shares aggregating to ₹3,000 crores.

Bajaj Housing Finance IPO Subscription

The IPO opened for subscription on September 9 and will close on September 11. As of 12:15 pm on September 9, the subscription status stands at 0.56 times. The retail investor portion has been subscribed 0.61 times, while the non-institutional investor portion has seen a subscription of 1.13 times. The QIB portion is subscribed 0.01 times.

The IPO allocation structure reserves a maximum of 50% for Qualified Institutional Buyers (QIBs), a minimum of 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Investors.

Bajaj Housing Finance IPO GMP

The current GMP for Bajaj Housing Finance IPO stands at ₹57. With the upper price band of the IPO at ₹70, the expected listing price is ₹127, indicating a premium of around 81% on listing. However, it’s crucial to remember that while GMPs can provide insight into market sentiment, they are not always a reliable predictor of the stock’s performance upon listing.

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Bajaj Housing Finance IPO Details

The price band for the IPO is set at ₹66 to ₹70 per share. The minimum lot size for an application is 214 shares, requiring a minimum investment of ₹14,980 from retail investors. The company plans to use the net proceeds from the offering to augment its capital base to meet future business requirements, particularly for onward lending. The shares of Bajaj Housing Finance are tentatively scheduled to be listed on both the BSE and NSE on Monday, September 16.

Before the IPO launch, the company successfully secured ₹1,758 crores from anchor investors, including the Government of Singapore, the Abu Dhabi Investment Authority (ADIA), Fidelity, Morgan Stanley, Nomura, Goldman Sachs, JP Morgan India Investment Trust Plc, SBI Life Insurance Company, ICICI Prudential Life Insurance Company, HDFC Mutual Fund (MF), Kotak Mahindra MF, SBI MF, UTI MF and Nippon India MF.

Bajaj Housing Finance Details

Established in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015. The company offers a comprehensive range of mortgage products, including home loans, loans against property (LAP), rent concessions, and developer finance. As of March 31, 2024, the company had 308,693 active customers, with 81.7% being home loan customers.

The company operates a network of 215 branches in 174 locations across 20 states and three union territories, managed by six centralized retail loan review centres and seven centralized loan processing centres.

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