Bajaj Finance, Bajaj Finserv shares jump 5% on Bajaj Housing Finance IPO date announcement

Shares of Bajaj Finance and Bajaj Finserv surged by up to 5 percent on September 2nd, following the announcement that their subsidiary, Bajaj Housing Finance, has set the opening date for its highly anticipated ₹6,500-crore IPO.

The initial public offering of Bajaj Housing Finance is scheduled to open for public subscription next Monday, September 9th.

The share price of Bajaj Finserv climbed 4.43 per cent to reach ₹1,862 per share on the NSE. The stock has been on an upward trend for the past three days, gaining over 8 per cent during this period.

Bajaj Finance shares surged amid excitement over an upcoming group IPO, reaching an intraday high of ₹7,439.4 per share on the National Stock Exchange (NSE), a 3.32 percent increase. The stock has been on an upward trend for the past six days, gaining 9.73 percent during this period.

About Bajaj Housing Finance IPO  details

The Bajaj Housing Finance IPO includes a fresh issue of equity shares worth up to ₹3,560 crore, along with an offer for sale (OFS) of equity shares totaling ₹3,000 crore by its parent company, Bajaj Finance.

The share sale is being conducted to adhere to the Reserve Bank of India's (RBI) guidelines, which require upper-layer non-banking financial companies (NBFCs) to be listed on stock exchanges by September 2025.

The funds raised from the new issue will be used to enhance the company's capital base and support future capital requirements.

Bajaj Housing Finance, a non-deposit taking housing finance company registered with the National Housing Bank since September 2015, offers financial solutions for purchasing and renovating residential and commercial properties.

In June, the company submitted initial documents to SEBI for a ₹7,000-crore IPO, consisting of ₹4,000 crore in fresh shares and a ₹3,000-crore offer for sale (OFS) from its parent. The market regulator approved the company’s first public offering earlier this month.