Sep 7, 2024
By: Sourabh Jain
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Pune-based Bajaj Housing Finance’s initial public offering (IPO) will open on Monday, September 9, and close on Wednesday, September 11.
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Bajaj Housing Finance has fixed a price band of ₹66-₹70 per share for its public issue.
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Bajaj Housing Finance is a Pune-based non-deposit-taking Housing Finance Company.
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Bajaj Housing Finance is looking to raise ₹6,560 crore from the current IPO. This includes a fresh issue of ₹3,560 crore and an offer for sale (OFS) component of ₹3,000 crore.
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Investors can bid for a minimum of 214 shares and in multiples of 214 shares thereafter.
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The company, founded in 2008 is a wholly owned subsidiary of Bajaj Finance that has been mortgage loans to premium home buyers since 2018. The company currently has 215 branches.
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The company’s income was ₹7,617.71 crore in FY24, up from ₹5,665.44 crore in FY23. The company reported a profit of ₹1,731.22 crore in FY24, up from ₹1,257.8 crore profit reported in FY23.
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The company operates in a highly regulated industry and is prone to regulatory actions. The company is also prone to regulatory action against developers.
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The funds raised will be used to augment the capital base to meet future business requirements.
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