Price Band of Rs 66 to 70 a share has been set by Bajaj Housing Finance. The deadline for this issue is September 11. September 12 will be the basis for allocation; September 13 will see reimbursements; and September 16 will see the stock go up for exchange.
The price range that Bajaj Housing Finance Ltd. has established for its initial public offering, which is scheduled to begin on September 9, is Rs. 66–70 per share.
September 6 is when the anchor bidding will begin, and the issue will end on September 11. September 12 will be the basis for allocation; September 13 will see reimbursements; and September 16 will see the stock go up for exchange.
The deal includes a new issue of up to Rs 3560 crore and an offer by Bajaj Finance Ltd. for the sale of up to Rs 3000 crore. The company’s entire market capitalisation will be approximately Rs 58300 crore at the upper end pricing range.
The book-running lead managers are Kotak Mahindra Capital, BofA Securities, Axis Capital, JM Financial Ltd, IIFL Securities, Goldman Sachs, and SBI Capital Markets. The housing financier’s legal advisor is Cyril Amarchand Mangaldas.
The action taken by Bajaj Housing Finance complies with the RBI’s mandate that “upper layer” NBFCs list by September 2025, three years after being notified.
According to its website, Bajaj Housing Finance is a diversified NBFC that serves more than 76.5 million clients nationwide. With its headquarters in Pune, the company provides financing to both private citizens and businesses looking to buy and renovate residential or commercial properties.
Bajaj Housing Finance IPO GMP
Market watchers report that today’s Bajaj Housing Finance IPO GMP (grey market premium) is ₹61, which is ₹5 more than the ₹56 GMP from Sunday. According to them, the NBFC submitted the Bajaj Housing Finance IPO RHP on Saturday of last week, and over the course of the preceding two days, the GMP for the IPO increased from ₹42 to ₹61. Thus, the IPO GMP of Bajaj Housing Finance grew by over 45% in just two days. They stated that after the business announces the Bajaj Housing Finance IPO price band, which is anticipated in the next one to two days, sentiment in the grey market may improve even more.
Bajaj Housing Finance IPO Shareholder’s Quota
Those who owned shares of Bajaj Finserv or Finance at the conclusion of last Friday’s session are qualified to apply for the impending IPO under the shareholders’ quota. Those who owned shares of the parent business on the RHP filing date are qualified to apply for the subsidiary company under the shareholders’ quota, per SEBI regulations.
Bajaj Housing Finance IPO Details
The NBFC wants to issue public bonds to raise 6,560 crore. New shares and an Offer for Sale will be part of the next IPO (OFS). According to the company’s RHP, which is accessible on the SEBI website, it plans to issue new shares to raise 3,560 crore, with the remaining 3,000 allocated for the OFS.
The subscription period for the Bajaj Housing Finance IPO will start on September 9th, 2024, and run through September 11th, 2024. September 12th, 2024 is the most likely date for the Bajaj Housing Finance IPO allotment, while September 16th, 2024 is the most likely date for the IPO listing.
Shubhangi Gupta is a distinguished content writer and the visionary founder of The Unpleasant – Acha Nahi Sabse Sacha. With a Master’s degree in Commerce from University of Lucknow, Shubhangi has seamlessly blended her academic background with her passion for reading and writing, embarking on a successful career as a content writer since 2019.
