Bajaj Housing Finance to raise Rs.59,000 crore through IPO, Listing likely in September this Year
Bajaj Housing Finance is likely to raise its IPO at a projected valuation of Rs.56,000 crore to Rs.59,000 crore, a report said. The listing of the IPO is likely in the first half of September, though the date has not been confirmed as yet.
The documents have already been submitted with SEBI for a Rs.7,000 crore IPO. It comprises a fresh issue of Rs.4,000 crore and an offer for sale of Rs.3,000 crore. SEBI approved the IPO at the beginning of this month itself.
The leading financial institutions that would manage the IPO include Axis Capital, BofA Securities, Goldman Sachs, IIFL Securities, JM Financial, Kotak Mahindra Capital and SBI Capital Markets. The legal advisor to the IPO is Cyril Amarchand Mangaldas.
Bajaj Housing Finance serves more than 76.5 million customers pan India, with business centred on loans against homes and commercial properties. It had Rs.91,370 crore of assets under management as of FY 2023-24 up by 32%.
This IPO comes on the heels of a recent Reserve Bank of India’s directive listing 16 NBFCs in the Upper Layer, including Bajaj Housing Finance. The RBI has directed those companies to get listed within three years of being notified.
