Bajaj Housing Finance Limited has set the price band for its initial public offer in the range of ₹66 to ₹70 at face value of ₹10 per equity share. The ₹6,560-crore public issue is set to go live on September 9, with anchor allocation scheduled to take place on September 6.
If you are looking to invest in this mainboard IPO, here are key things to know.
Bajaj Housing Finance IPO dates
The subscription window for Bajaj Housing Finance IPO will be open between September 9 and 11. The share allotment status in the public offer is expected to be finalised by September 12.
This will be followed by the initiation of refunds for non-allottees and credit of shares into the demat account of successful bidders on September 13
Bajaj Housing Finance shares are likely to be listed on BSE and NSE on September 16.
Bajaj Housing Finance IPO offer size
The Bajaj Housing Finance IPO is a book-built issue of ₹6,560 crore. It comprises an offer for sale (OFS) component of 42.86 crore equity shares by parent company Bajaj Finance worth ₹3,000 crore, and a fresh issue of 50.86 crore shares totalling ₹3,560 crore.
Bajaj Housing Finance IPO lot size
The minimum lot size for application in Bajaj Housing Finance IPO is 214 shares, totalling an investment of ₹14,980 at the upper price band.
Bajaj Housing Finance IPO objectives
The main purpose of the Bajaj Housing Finance IPO is to fulfil a mandate from the Reserve Bank of India (RBI), which requires top non-banking financial organisations (NBFCs) to get listed on the stock markets within three years of getting an "upper layer" status.
Bajaj Housing Finance Limited will use the net proceeds from the fresh issue to augment its capital base to meet future business requirements towards onward lending.
Bajaj Housing Finance IPO other key details
The company has appointed KFin Technologies Limited as the registrar for the public issue. Kotak Mahindra Capital Company Ltd, Axis Capital Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, JM Financial Ltd, Goldman Sachs (India) Securities Private Ltd, and IIFL Securities Ltd. are the book-running lead managers for Bajaj Housing Finance IPO.
