Bajaj Housing IPO to open on Sept 9, price band at Rs 66-70/share

The ₹6,560-crore initial public offer of Bajaj Housing Finance will open for subscription on September 9 and close September 11. The price band will be between ₹66 and ₹70. The offer comprises a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore by promoter Bajaj Finance. Bids can be made for a minimum of 214 shares and multiples thereafter.

Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance and offers finance for the purchase and renovation of homes or commercial spaces to individuals and corporate entities, provides loans against property and working capital for business expansion. It also provides loans and lease rental discounting to developers. It plans to use the proceeds from the fresh issue to augment its capital base.

Net profit of the company rose 37.6% to ₹1,731.2 crore in FY24 from ₹1,257.8 crore in FY23. Revenue from operations grew 34.5% to ₹7,617.3 crore. The book-running lead managers to the issue are Kotak Mahindra Capital, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities Private, SBI Capital Markets, JM Financial and IIFL Securities.