Bajaj Housing Finance IPO: All you need to know about the ₹6,560 crore issue

Bajaj Housing Finance IPO has a price band of ₹66-70 per share, opens on September 9 and closes on September 11.

Bajaj Housing Finance' initial public offering (IPO) will open for bidding on Monday, September 9. The price band of the IPO has been set by the Bajaj Group firm in the range of ₹66-70 apiece. Investors can apply for a minimum of 214 equity shares and its multiples thereafter. The issue will close for bidding on September 11.

Bajaj Housing Finance aims to raise ₹6,560 crore through its IPO, including a fresh share sale of ₹3,560 crore and an offer-for-sale of ₹3,000 crore.

Bajaj Housing Finance company details

Bajaj Housing Finance was founded in 2008 and is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018. The company provides customized financial solutions to individuals and corporates for the purchase and renovation of homes and commercial spaces.

Bajaj Housing Finance IPO details

The company is looking to raise a total of ₹6,560 crore from its primary stake sale, which includes a fresh share sale of ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore from its promoter Bajaj Finance Ltd. Anchor book for the issue will open on September 6.

In the IPO, Bajaj Housing Finance has reserved shares worth ₹200 crore for the eligible employees of the company. Shares worth ₹500 crore shall be reserved for eligible shareholders of Bajaj Finance and Bajaj Finserv. In the offer, 50 per cent shares will be allocated for qualified institutional bidders while NII and retail investors will get 15 per cent and 35 per cent.

Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities are the book running lead managers of the Bajaj Housing Finance IPO. Kfin Technologies is the registrar for the issue.

Shares of the company shall be listed on both BSE and NSE likely on September 16.