IPO of another company of Bajaj Group is coming. It is reported that the IPO of Bajaj Housing Finance, a subsidiary of Bajaj Finance, may open for investment from next month, September. According to media reports, this issue may open by mid-September. The company’s shares are already available at a premium of Rs 39 in the gray market. However, the price band has not been announced yet nor has the date of opening of the issue been announced. Let us tell you that in June this year, Bajaj Housing Finance had submitted documents to the capital market regulator SEBI to raise Rs 7,000 crore through IPO and now approval has also been received from SEBI.
what is the detail
According to documents filed with Sebi, the proposed IPO will comprise fresh issuance of equity shares worth up to Rs 4,000 crore and an offer for sale (OFS) of equity shares worth Rs 3,000 crore by parent company Bajaj Finance. The share sale is being done to comply with Reserve Bank of India (RBI) norms that require upper-tier non-banking finance companies (NBFCs) to be listed on the stock exchanges by September 2025. Proceeds from the fresh issue will be used to increase the company’s capital base to meet future capital requirements.
company business
Bajaj Housing Finance is a non-deposit taking housing finance company registered with the National Housing Bank since September 2015. It provides financial solutions for the purchase and renovation of residential and commercial properties. The company’s net profit in the last financial year (2023-24) was Rs 1,731 crore, an increase of 38 percent.
