Bajaj Housing Finance Sets Rs 66-Rs 70 Price Band for IPO

 Mumbai: Bajaj Housing Finance announced Rs 6560 crore initial public offering, the biggest IPO this year(Ola Electric IPO of Rs 6145 crore) in the price band of Rs 66 to Rs 70 per equity share of Rs 10 face value.The public issue opens on Sept.9 .and closes on Sept.11, 2024.

Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018.

The IPO by the second largest housing finance company is a mix of fresh issue of equity shares worth Rs 3560 crore and an offer for sale of equity shares worth Rs 3000 crore by promoter Bajaj Finance.

The net proceeds from the fresh issue will be used to augment working capital requirements for onward lending.

The company has reserved Rs 500 croe worth of equity shares under shareholder quota for allotment to eligible shareholders of Bajaj Finance and Bajaj Finserv with cut off date as August 30, 2024-the date of filing the red herring prospectus would be eligible to apply under shareholder's reservation portion.