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Bajaj Housing Finance IPO is a book-built issue of Rs 6,560.00 crores. The issue is a combination of a fresh issue of 50.86 crore shares aggregating to Rs 3,560.00 crores and an offer for sale of 42.86 crore shares aggregating to Rs 3,000.00 crores.
The IPO bidding opened for subscription on September 9, 2024, and will close on September 11, 2024. The price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 214 Shares.
Company Summary
Founded in 2008, Bajaj Housing Finance 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 is part of the Bajaj Group, a diversified group of companies with interests in various sectors. Bajaj Housing Finance provides customized financial solutions to individuals and corporates for the purchase and renovation of homes and commercial spaces. The company’s mortgage product range is comprehensive and includes (i) home loans, (ii) loan against property (LAP), (iii) rent concessions, and (iv) developer finance.
The Company has a network of 215 branches in 174 locations across 20 states and three union territories, overseen by six centralized retail loan review centers and seven centralized loan processing centers.
As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
Company Financials
| 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 | ||||
Objectives of the Issue: The company intends to utilize the net proceeds towards the following objective:
1. Augment capital base to meet future business requirements of the company towards onward lending.
2. General corporate purposes.
Promoters of the company
Bajaj Finance Limited (“BFL”) and Bajaj Finserv Limited (“BFS”) are the Promoters of the Company. The Bajaj Finance Limited holds 7,819,575,273 Equity Shares, equivalent to 100% of the issued, subscribed and paid-up pre-offer Equity Share capital of the Company.
IPO details
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | Monday, September 16, 2024 |
| 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 |
Lot Allocation details
| 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 |
Allotment Schedule
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| The 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 |
IPO Reservation
| Investor Category | Shares Offered |
| Anchor Investor Shares Offered | 25,11,42,856 (26.8%) |
| QIB Shares Offered | 16,74,28,580 (17.87%) |
| NII (HNI) Shares Offered | 12,55,71,430 (13.4%) |
| Retail Shares Offered | 29,30,00,000 (31.27%) |
| Employee Shares Offered | 2,85,71,428 (3.05%) |
| Other Shares Offered | 7,14,28,571 (7.62%) |
| Total Shares Offered | 93,71,42,865 (100%) |
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