Bajaj Housing Finance IPO is a book built issue of Rs 6,560.00 crores. The issue is a combination of fresh issue of 50.86 crore shares aggregating to Rs 3,560.00 crores and offer for sale of 42.86 crore shares aggregating to Rs 3,000.00 crores.
Bajaj Housing Finance IPO opens for subscription on September 9, 2024 and closes on September 11, 2024. The allotment for the Bajaj Housing Finance IPO is expected to be finalized on Thursday, September 12, 2024. Bajaj Housing Finance IPO will list on BSE, NSE with tentative listing date fixed as Monday, September 16, 2024.
Bajaj Housing Finance IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 214 Shares. The minimum amount of investment required by retail investors is ₹14,980. The minimum lot size investment for sNII is 14 lots (2,996 shares), amounting to ₹209,720, and for bNII, it is 67 lots (14,338 shares), amounting to ₹1,003,660.
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 book running lead managers of the Bajaj Housing Finance IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bajaj Housing Finance IPO RHP for detailed information.
Bajaj Housing Finance 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 IPO Reservation
Bajaj Housing Finance IPO offers 93,71,42,865 shares. 16,74,28,580 (17.87%) to QIB, 12,55,71,430 (13.4%) to NII, 29,30,00,000 (31.27%) to RII, 2,85,71,428 (3.05%) to employees and 25,11,42,856 (26.8%) to Anchor investors.
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 IPO Anchor Investors Details
Bajaj Housing Finance IPO raises Rs 1,758.00 crore from anchor investors. Bajaj Housing Finance IPO Anchor bid date is September 6, 2024. Bajaj Housing Finance IPO Anchor Investors list
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 IPO Timeline (Tentative Schedule)
Bajaj Housing Finance IPO opens on September 9, 2024, and closes on September 11, 2024.
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 IPO Lot Size
Investors can bid for a minimum of 214 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
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
Lot Size Calculator
Bajaj Housing Finance IPO Promoter Holding
Bajaj Finance Limited and Bajaj Finserv Limited are the company promoters.
Share Holding Pre Issue 100.00%
Share Holding Post Issue
About Bajaj Housing Finance Limited
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.
As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
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.
Company Financials
Bajaj Housing Finance Limited Financial Information (Restated)
Bajaj Housing Finance Limited’s revenue increased by 34% and profit after tax (PAT) rose by 38% between the financial year ending with March 31, 2024 and March 31, 2023.
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 Surplus4,252.83 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
Key Performance Indicator
The market capitalization of Bajaj Housing Finance IPO is Rs 58297.03 Cr.
KPI as of June 30, 2024.
KPI Values
Debt/Equity 5.7
RoNW 3.6%
P/BV 3.72
Check Bajaj Housing Finance IPO Peer Comparison here.
Pre IPO Post IPO
EPS (Rs) 2.21 2.32
P/E (x) 31.62 30.2
Note:
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Bajaj Housing Finance IPO Objectives)
The company intends to utilize the net proceeds towards the following objective:
Augment capital base to meet future business requirements of the company towards onward lending.
Bajaj Housing Finance IPO Review (Apply)
[Dilip Davda] This is the Bajaj group’s housing finance arm carrying the group’s legacy. It is the second largest and fastest growing entity in the segment. It marked steady growth in its top and bottom lines for the reported periods. Based on FY25 annualized earnings, the issue appears fully priced. It’s a pure long term story and investors may park moderate funds for adding this company as a portfolio investment. Read detail review…
Bajaj Housing Finance IPO Subscription Status (Bidding Detail)
The Bajaj Housing Finance IPO is subscribed 1.12 times on September 9, 2024 2:11:14 PM (Day 1). The public issue subscribed 1.07 times in the retail category, 0.02 times in the QIB category, and 2.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
Category Subscription (times) Shares Offered Shares bid for
QIB 0.02 16,74,28,580 39,18,340
NII 2.58 12,55,71,430 32,44,42,832
bNII (bids above ₹10L) 2.60 8,37,14,286 21,77,05,838
sNII (bids below ₹10L) 2.55 4,18,57,143 10,67,36,994
Retail 1.07 29,30,00,000 31,45,03,602
Employee0.23 2,85,71,428 65,34,490
Others 1.67 7,14,28,571 11,95,32,054
Total 1.12 68,60,00,009 76,89,31,318
Total Application : 1,034,513
Shareholder Reservation Portion: The company has reserved Rs 5000 million worth of shares under shareholder quota.
Eligible Shareholders of Bajaj Finance Limited and Bajaj Finserv Limited as of the Red Herring Prospectus date, i.e. August 30, 2024, would be eligible to apply for this Offer under the Shareholder’s Reservation Portion.
Only Bids received at or above the Offer Price will be considered in this category.
The Shareholder portion shall not exceed 10% of the size of the Offer.
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