The Bajaj Housing Finance IPO is a book-built issue totaling Rs 6,560.00 crores. It comprises a fresh issue of 50.86 crore shares worth Rs 3,560.00 crores and an offer for sale of 42.86 crore shares worth Rs 3,000.00 crores.
The IPO opens for subscription on September 9, 2024, and closes on September 11, 2024. The allotment is expected to be finalized on September 12, 2024, with a tentative listing on the BSE and NSE on September 16, 2024.
The price band for the IPO is set at ₹66 to ₹70 per share. Retail investors can apply with a minimum lot size of 214 shares, requiring an investment of ₹14,980. For sNII, the minimum investment is ₹209,720 (14 lots), and for bNII, it is ₹1,003,660 (67 lots).
Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited, and IIFL Securities Ltd are the lead managers for the IPO, with Kfin Technologies Limited serving as the registrar.
Below are the details of Bajaj Housing Finance Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Bajaj Housing Finance Limited IPO Details
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 214 Shares |
| Total Issue Size | 937,142,858 shares (aggregating up to ₹6,560.00 Cr) |
| Fresh Issue | 508,571,429 shares (aggregating up to ₹3,560.00 Cr) |
| Offer for Sale | 428,571,429 shares of ₹10 (aggregating up to ₹3,000.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 7,819,575,273 |
| Share holding post issue | 8,328,146,702 |
Bajaj Housing Finance Limited IPO Timeline
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Bajaj Housing Finance Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 214 | ₹14,980 |
| Retail (Max) | 13 | 2782 | ₹194,740 |
| S-HNI (Min) | 14 | 2,996 | ₹209,720 |
| S-HNI (Max) | 66 | 14,124 | ₹988,680 |
| B-HNI (Min) | 67 | 14,338 | ₹1,003,660 |
Bajaj Housing Finance Limited IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 25,11,42,856 (26.8%) | NA |
| QIB Shares Offered | 16,74,28,580 (17.87%) | NA |
| NII (HNI) Shares Offered | 12,55,71,430 (13.4%) | |
| bNII > ₹10L | 8,37,14,286 (8.93%) | 27,942 |
| sNII < ₹10L | 4,18,57,143 (4.47%) | 13,971 |
| Retail Shares Offered | 29,30,00,000 (31.27%) | 13,69,158 |
| Employee Shares Offered | 2,85,71,428 (3.05%) | NA |
| Other Shares Offered | 7,14,28,571 (7.62%) | NA |
| Total Shares Offered | 93,71,42,865 (100%) |
Bajaj Housing Finance Limited IPO Anchor Investors
| Bid Date | September 6, 2024 |
| Shares Offered | 251,142,856 |
| Anchor Portion Size (In Cr.) | 1,758.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 11, 2024 |
Bajaj Housing Finance Limited IPO Financial Information
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 88,538.83 | 81,827.09 | 64,654.14 | 48,527.08 | ||||||||||||||||||||||||||||||||||||
| Revenue | 2,208.73 | 7,617.71 | 5,665.44 | 3,767.13 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 482.61 | 1,731.22 | 1,257.8 | 709.62 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 14,719.91 | 12,233.5 | 10,503.19 | 6,741.36 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 4,252.83 | 5,520.81 | 3,791.03 | 1,858.03 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 73,347.06 | 69,129.32 | 53,745.39 | 41,492.32 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Bajaj Housing Finance Limited IPO Review
Bajaj Housing Finance Ltd. (BHFL), a non-deposit-taking Housing Finance Company, offers various mortgage products such as home loans, loans against property, and developer financing. As of March 2024, home loans made up 57.8% of its AUM, primarily serving salaried customers. The company’s AUM grew at a CAGR of 30.9% from 2022 to 2024, reaching ₹970,71.33 crore in June 2024. BHFL is launching an IPO of ₹6560 crore, with a price band of ₹66 to ₹70 per share, to raise capital for future business needs. The company has demonstrated steady financial growth, though the IPO is considered fully priced.