Bajaj Housing Finance IPO: Price band set at ₹66-70 per share; check details

  • Bajaj Housing Finance Limited IPO price band is set at 66 to 70 per equity share. The subscription date is from September 9 to September 11.

Dhanya Nagasundaram
Published3 Sep 2024, 08:05 AM IST
Bajaj Housing Finance IPO price band: The Bajaj Housing Finance Limited IPO price band has been fixed in the range of  <span class='webrupee'>₹</span>66 to  <span class='webrupee'>₹</span>70 per equity share of the face value of  <span class='webrupee'>₹</span>10.
Bajaj Housing Finance IPO price band: The Bajaj Housing Finance Limited IPO price band has been fixed in the range of ₹66 to ₹70 per equity share of the face value of ₹10.

Bajaj Housing Finance IPO price band: The Bajaj Housing Finance Limited IPO price band has been fixed in the range of 66 to 70 per equity share of the face value of 10. The Bajaj Housing Finance IPO date of subscription is scheduled for Monday, September 9, and will close on Wednesday, September 11. The allocation to anchor investors for the Bajaj Housing Finance IPO is scheduled to take place on Friday, September 6.

The floor price and the cap price are 6.6 times and 7.0 times the face value of the equity shares respectively. The Bajaj Housing Finance IPO lot size is 214 equity shares and in multiples of 214 equity shares thereafter.

Bajaj Housing Finance IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.

“Earlier, Bajaj Housing Finance mentioned that there was no upper limit for the shareholder quota bid; one could apply up to the total size of the shareholder quota, which is 500 crore. They also stated that if you applied for more than 2 lakh, you would not be eligible to apply in the retail or HNI categories. However, the company has now filed an addendum stating that the maximum bid limit in the shareholder quote is 2 lakh,” said Avinash Gorakshakar, Head-Research at Profitmart Securities.

Tentatively, Bajaj Housing Finance IPO basis of allotment of shares will be finalised on Thursday, September 12, and the company will initiate refunds on Friday, September 13, while the shares will be credited to the demat account of allottees on the same day following refund. Bajaj Housing Finance share price is likely to be listed on BSE and NSE on Monday, September 16.

The company's listed peers, according to the DRHP, are PNB Housing Finance (P/E of 12.4), Can Fin Homes (P/E of 12.9), Aadhar Housing Finance (P/E of 18.7), Aavas Financiers (P/E of 3.3), Aptus Value Housing Finance (P/E of 24.6), and Home First Finance (P/E of 24.3). LIC Housing Finance has a P/E of 7.3.

Bajaj Housing Finance operates as a non-deposit housing finance firm and has been engaged in providing mortgage loans since fiscal year 2018. Bajaj Housing Finance is a subsidiary of the Bajaj Group and promoted by Bajaj Finance Ltd and Bajaj Finserv Ltd. As per news report , Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance. Bajaj Finserv holds a 51.34% interest in Bajaj Finance.

Bajaj Housing Finance IPO details 

Bajaj Housing Finance IPO consists of an offer for sale (OFS) of equity shares by parent company Bajaj Finance for a total of 3,000 crore and a new issue of equity shares up to 3,560 crore.

The purpose of the share sale is to fulfill the Reserve Bank of India's (RBI) mandate that by September 2025, upper layer non-banking financial organisations (NBFCs) must be listed on stock markets.

The company's capital base will be increased using the proceeds from the fresh issue in order to satisfy its future capital needs.

The book running lead managers for the offering consist of Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, SBI Capital Markets Ltd, JM Financial Ltd, and IIFL Securities Ltd.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

 

Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:3 Sep 2024, 08:05 AM IST
Business NewsMarketsIPOBajaj Housing Finance IPO: Price band set at ₹66-70 per share; check details

Most Active Stocks

Tata Steel share price

147.55
03:59 PM | 8 NOV 2024
-3.35 (-2.22%)

Tata Motors share price

805.70
03:58 PM | 8 NOV 2024
-14.1 (-1.72%)

Indian Hotels Company share price

733.05
03:51 PM | 8 NOV 2024
49.45 (7.23%)

Ashok Leyland share price

222.00
03:59 PM | 8 NOV 2024
6.2 (2.87%)
More Active Stocks

Market Snapshot

  • Top Gainers
  • Top Losers
  • 52 Week High

Aarti Industries share price

474.75
03:59 PM | 8 NOV 2024
-40.3 (-7.82%)

Signatureglobal India share price

1,274.45
03:29 PM | 8 NOV 2024
-107.95 (-7.81%)

Great Eastern Shipping Company share price

1,200.50
03:29 PM | 8 NOV 2024
-90.45 (-7.01%)

GMM Pfaudler share price

1,282.90
03:29 PM | 8 NOV 2024
-92 (-6.69%)
More from Top Losers

Indian Hotels Company share price

733.05
03:51 PM | 8 NOV 2024
49.45 (7.23%)

Vijaya Diagnostic Centre share price

1,098.90
03:29 PM | 8 NOV 2024
71.45 (6.95%)

Motilal Oswal Financial Services share price

996.05
03:59 PM | 8 NOV 2024
61.85 (6.62%)

One 97 Communications share price

848.15
03:58 PM | 8 NOV 2024
52.35 (6.58%)
More from Top Gainers

Recommended For You

    More Recommendations

    Gold Prices

    • 24K
    • 22K
    Bangalore
    79,485.000.00
    Chennai
    79,491.000.00
    Delhi
    79,643.000.00
    Kolkata
    79,495.000.00

    Fuel Price

    • Petrol
    • Diesel
    Bangalore
    102.92/L0.00
    Chennai
    100.80/L0.00
    Kolkata
    104.95/L0.00
    New Delhi
    94.77/L0.00

    Popular in Markets

      HomeMarketsPremiumInstant LoanMint Shorts