Bajaj Housing Finance IPO to open on Sept 9 to raise ₹6,560 crore

The much-awaited Bajaj Housing Finance’s initial public offering (IPO) is set to open on September 9, 2024, and close on September 11, 2024. The housing finance firm aims to raise a total of ₹6,560 crore through the IPO, which includes a fresh issue of ₹3,560 crore and an offer for sale (OFS) of ₹3,000 crore.

According to the filing, the Bajaj Finance subsidiary firm’s IPO price band will be issued on September 3, while the anchor portion will be issued on September 6.

The issue also includes a reservation of ₹500 crore specifically for shareholders, to give them an opportunity to participate in the offering.

A CNBC-TV18 report on June 8 informed that the company had filed papers with capital markets regulator SEBI.

Coming after many years from the Bajaj Group, the Bajaj Housing Finance IPO aims to use the funds raised from the fresh issue to augment the NBFC’s capital base, supporting its growth and expansion initiatives.

Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance. Bajaj Finserv holds a 51.34% stake in Bajaj Finance.

Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd and JM Financial Ltd are the book-running lead managers to the issue, as per the CNBC-TV18 report.