Bajaj Housing Finance IPO Sees Overwhelming Response, Subscribed 7.50 Times on Day 2
Bajaj Housing Finance's Rs 6,560-crore initial public offer (IPO) received a massive response on the second day of bidding, with the issue getting subscribed 7.50 times.
Bajaj Housing FinanceIpoSubscriptionNoninstitutional InvestorsQibsRetail Individual InvestorsRbiNbfcStock ExchangesReal EstateSep 11, 2024
The initial share sale got bids for 5,45,85,77,822 shares against 72,75,75,756 shares on offer, as per NSE data. The portion meant for non-institutional investors got subscribed 16.45 times, while the Qualified Institutional Buyers (QIBs) part received 7.46 times subscription. The quota for Retail Individual Investors (RIIs) garnered 3.83 times subscription.
The initial public offer of Bajaj Housing Finance got fully subscribed within hours of opening for bidding on Monday and ended the day with 2 times subscription. Bajaj Housing Finance on Friday said it has collected Rs 1,758 crore from anchor investors.
The initial share sale will conclude on September 11. The price band for the offer has been fixed at Rs 66-70 per share. The IPO has a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 3,000 crore by parent Bajaj Finance.
The share sale is being conducted to comply with the Reserve Bank of India's (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025. Proceeds from the fresh issue will be used to augment the company's capital base to meet future capital requirements.
Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015. It offers financial solutions for purchasing and renovating residential and commercial properties.
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 are the book-running lead managers to the offer.
Frequently Asked Questions
What is the size of the Bajaj Housing Finance IPO?
The size of the Bajaj Housing Finance IPO is Rs 6,560 crore.
What is the price band for the offer?
The price band for the offer has been fixed at Rs 66-70 per share.
What is the purpose of the IPO?
The IPO is being conducted to comply with the Reserve Bank of India's (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
Who are the book-running lead managers to the offer?
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 are the book-running lead managers to the offer.
What are the products offered by Bajaj Housing Finance?
Bajaj Housing Finance offers financial solutions for purchasing and renovating residential and commercial properties, including home loans, loans against property, lease rental discounting, and developer financing.
Tags:
Related News Articles
Institutional Real Estate Investments in India Reaches $6.5 Billion in 2024, Industrial and Warehousing Lead the Way
In 2024, institutional real estate investments in India surged to $6.5 billion, a 22% increase from the previous year. The industrial and warehousing sectors dominated, accounting for 39% of the total investments, followed closely by the office segment at
A Teacher and Financial Pro’s Hill Station Retreat Near Mumbai
Discover the unique journey of Anukampa and Anurag, a teacher and financial professional who traded city life for the serenity of Shedung, just 60 km from Mumbai. Explore their reasons for the move and the trade-offs they face daily.
Real Estate Sector Aims for Industry Status: Key Reforms for Union Budget 2025
The real estate sector is making a strong push for 'industry' status in the upcoming Union Budget 2025, aiming to drive investment, innovation, and economic growth. Grant Thornton Bharat’s survey highlights key reforms that could boost the sector and addr
Mumbai Sees Stable Property Registrations in February 2025
While the property registration numbers have shown a slight decline, the Mumbai real estate market is exhibiting signs of stabilisation, according to Knight Frank India.
TCS Expands Delivery Center with ₹2250 Crore Acquisition of Darshita Southern India Happy Homes
Tata Consultancy Services (TCS) has announced the acquisition of Darshita Southern India Happy Homes for ₹2250 crore. This strategic move aims to expand TCS's delivery center in the region, leveraging the commercial real estate developed by Darshita for t
How RERA Karnataka Ensures Transparency in Flats for Sale in Bangalore
Bangalore's real estate market has seen significant growth, leading to a surge in demand for available flats. RERA Karnataka is playing a crucial role in ensuring transparency and accountability in the sector.