Bajaj Housing Finance IPO Fully Subscribed in Hours
Bajaj Housing Finance IPO(Initial Public Offering), valued at Rs 6,560 crore, was fully subscribed within hours of opening for bidding on Monday. According to NSE data as of 14:03 hours, the Bajaj Housing Finance IPO received bids for 73,02,58,736 shares against the 72,75,75,756 shares available, indicating a one-time subscription. The segment allocated for non-institutional investors was oversubscribed at 2.29 times, while the Retail Individual Investors (RIIs) category reached 97% subscription. The Qualified Institutional Buyers (QIBs) portion saw a 2% subscription rate.
Ahead of the IPO, Bajaj Housing Finance raised Rs 1,758 crore from anchor investors. The IPO, which will close on September 11, is priced between Rs 66 and Rs 70 per share. It includes a fresh issue of equity shares worth up to Rs 3,560 crore and an offer-for-sale (OFS) of Rs 3,000 crore by Bajaj Finance, its parent company. This share sale is in compliance with the Reserve Bank of India’s (RBI) mandate that requires upper-layer non-banking finance companies to be listed on stock exchanges by September 2025. The funds from the fresh issue will be used to strengthen the company’s capital base for future needs.
Bajaj Housing Finance, a non-deposit-taking housing finance company registered with the National Housing Bank since September 2015, provides financial solutions for purchasing and renovating residential and commercial properties. Recognized as an “upper layer” non-banking financial company (NBFC) by the RBI, it offers a diverse range of mortgage products, including home loans, loans against property, lease rental discounting, and developer financing.
In recent months, other housing finance companies like Aadhar Housing Finance and India Shelter Finance have also been listed on stock exchanges. The IPO is overseen by multiple book-running lead managers, such as Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, and Goldman Sachs (India) Securities Private Ltd, Axis Capital, and JM Financial Ltd.
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