The Bajaj Housing Finance IPO will open on September 9, 2024, and close on September 11, 2024. It is a fixed price issue, aiming to raise approximately ₹6,560 crores. This includes a fresh issue of ₹3,560 crores and an offer for sale of up to 428,571,429 equity shares with a face value of ₹10 each.
The IPO price band is set between ₹66 and ₹70 (tentative). The retail quota is 35%, QIB (Qualified Institutional Buyers) is 50%, and HNI (High Net Worth Individuals) is 15%. The shares will be listed on both NSE and BSE on September 16, 2024, with the allotment date set for September 12, 2024.
In terms of financial performance, Bajaj Housing Finance reported revenue of ₹7,617.71 crores in 2024, a significant increase from ₹5,665.44 crores in 2023. The company also posted a profit of ₹1,731.22 crores in 2024, recovering from a loss of ₹1,257.80 crores in 2023. Based on these financials, long-term investors may consider applying for the IPO.
Bajaj Housing Finance IPO Shareholder Quota Eligibility
The Bajaj Housing Finance IPO will include a special shareholder quota for those holding shares of Bajaj Finserv and Bajaj Finance. The IPO will consist of a ₹3,000 crore share sale by promoters. To be eligible for the shareholder quota, investors must hold shares of Bajaj Finserv or Bajaj Finance as of the record date, August 30, 2024. This record date was set when the RHP (Red Herring Prospectus) was filed and the IPO dates were announced on August 30, 2024.
Bajaj Housing Finance IPO Shareholder Quota Details
The latest information on the shareholder quota for the Bajaj Housing Finance IPO is as follows. Shareholders of Bajaj Finserv and Bajaj Finance can apply for up to ₹2 lakh, with the following combinations:
Shareholder Quota + Retail
Shareholder Quota + Small High Net Worth Individual (SHNI)
Shareholder Quota + Big High Net Worth Individual (BHNI)
Note: Investors cannot apply for more than ₹2 lakh under the shareholder quota, as per online sources.
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Bajaj Housing Finance IPO Objectives:
The company plans to use the net proceeds from the IPO for the following purpose:
Strengthen its capital base to support future business growth and onward lending.
Bajaj Housing Finance IPO Review (Should You Apply?)
Review coming soon.
Bajaj Housing Finance IPO Date & Price Band Details:
| IPO Open: | September 9, 2024 |
| IPO Close: | September 11, 2024 |
| IPO Size: | Approx ₹6,560 Crores |
| Fresh Issue: | Approx ₹3,560 Crores |
| Offer for Sale: | Approx ₹3,000 Crores |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹65 to ₹70 Per Share (Tentative) |
| IPO Listing on: | BSE & NSE |
| Retail Quota: | 35% |
| QIB Quota: | 50% |
| NII Quota: | 15% |
| Discount: | N/A |
Bajaj Housing Finance IPO Lot Size:
The minimum lot size for the Bajaj Housing Finance IPO is 210 shares, requiring an investment of ₹14,700. Retail investors can apply for a maximum of 13 lots, which equals 2,730 shares, with a total investment of ₹191,100.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 210 | ₹ 14,700 |
| Retail Maximum | 13 | 2,730 | ₹ 1,91,100 |
| S-HNI Minimum | 14 | 2,940 | ₹ 2,05,800 |
| B-HNI Minimum | 69 | 14,490 | ₹ 10,14,300 |
Bajaj Housing Finance IPO Timeline:
The Bajaj Housing Finance IPO will open on September 9 and close on September 11. The allotment of shares will be finalized on September 12, and the shares are expected to be listed on September 16.
| IPO Open Date: | September 9, 2024 |
| IPO Close Date: | September 11, 2024 |
| Basis of Allotment: | September 12, 2024 |
| Refunds: | September 13, 2024 |
| Credit to Demat Account: | September 13, 2024 |
| IPO Listing Date: | September 16, 2024 |
Bajaj Housing Finance IPO GMP Today:
The latest Grey Market Premium (GMP) for the Bajaj Housing Finance IPO is ₹55.50. The official price band for the IPO has not been announced yet. We will update the cap price and estimated listing price as soon as this information becomes available.
About the Company
Bajaj Housing Finance Limited is a non-deposit-taking Housing Finance Company (HFC), registered with the National Housing Bank (NHB) since September 24, 2015. The company has been involved in mortgage lending since Fiscal 2018 and was categorized as an “Upper Layer” NBFC (NBFC-UL) by the RBI as of September 30, 2022, under the “Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs” issued on October 22, 2021.
Bajaj Housing Finance provides a wide range of financial solutions for the purchase and renovation of residential and commercial properties. Their comprehensive mortgage product suite includes:
- Home loans
- Loans against property (LAP)
- Lease rental discounting
- Developer financing
- The company primarily focuses on individual retail housing loans, backed by a diversified portfolio of lease rental discounting and developer loans. Their offerings cater to a broad spectrum of clients, from individual homebuyers to large-scale developers.
- As of March 31, 2024, Bajaj Housing Finance has emerged as a leading HFC in India, with several notable achievements:
- The largest non-deposit-taking HFC in India by Assets Under Management (AUM) within seven years of starting its mortgage operations.
- The second-largest HFC and the eighth-largest NBFC-UL in India based on AUM, with a total AUM of ₹913,704 million.
- The second most profitable HFC in India, with robust returns on average assets and equity for Fiscal 2024.
- One of the fastest-growing HFCs/ NBFC-ULs, based on AUM CAGR from Fiscal 2022 to 2024.
- The most diversified HFC in India, offering a comprehensive suite of mortgage lending products.
- The highest proportion of salaried customers in its home loan portfolio among large HFCs.
- A focus on prime housing with a higher average ticket size compared to other large HFCs.
- The lowest Gross Non-Performing Asset (GNPA) ratio of 0.27% and Net Non-Performing Asset (NNPA) ratio of 0.10% among large HFCs in India.
- The highest credit ratings in India for both long-term and short-term borrowing programs.
- The second-highest loan disbursement by HFCs in India, totaling ₹446.6 billion for Fiscal 2024.
- The second-highest AUM per branch and AUM per employee among large HFCs in India.
Bajaj Housing Finance Financial Report
| In crores | |||
| Year | Revenue | Expense | PAT |
| 2022 | ₹ 3,767.13 | ₹ 2,807.27 | ₹ 709.62 |
| 2023 | ₹ 5,665.44 | ₹ 3,965.38 | ₹ 1,257.80 |
| 2024 | ₹ 7,617.71 | ₹ 5,456.39 | ₹ 1,731.22 |
Peer Group
- LIC Housing Finance Limited
- PNB Housing Finance Limited
- Can Fin Homes Limited
- Aadhar Housing Finance
- Aavas Financiers
- Aptus Value Housing Finance
- Home First Finance
Company Promoters
- Bajaj Finance Limited
- Bajaj Finserv Limited
Bajaj Housing Finance IPO Registrar
- KFin Technologies Limited
- Phone: +91 40 67162222 / 18003094001
- Email: bhfl.ipo@kfintech.com
- Website: www.kfintech.com
Lead Managers (Merchant Bankers)
- Kotak Mahindra Capital Company Limited
- BofA Securities India Limited
- Axis Capital Limited
- Goldman Sachs (India) Securities Private Limited
- SBI Capital Markets Limited
- JM Financial Limited
- IIFL Securities Limited
Company Address
- Bajaj Housing Finance Limited
- 5th Floor, B2, Cerebrum IT Park, Kumar City, Kalyani Nagar,
- Pune 411014, Maharashtra, India
- Phone: 020 71878060
- Email: bhflinvestor.service@bajajfinserv.in
- Website: www.bajajhousingfinance.in
Bajaj Housing Finance IPO FAQs
What are the key dates for the Bajaj Housing Finance IPO?
- IPO Open Date: September 9, 2024
- IPO Close Date: September 11, 2024
- Allotment Date: September 12, 2024
- Listing Date: September 16, 2024
What is the price band for the Bajaj Housing Finance IPO?
The price band has not yet been announced. Updates will be provided once available.
What is the minimum lot size for the Bajaj Housing Finance IPO?
The minimum lot size is 210 shares, requiring an investment of ₹14,700.
How many lots can retail investors apply for?
Retail investors can apply for up to 13 lots, which totals 2,730 shares, or ₹191,100.
What is the Grey Market Premium (GMP) for the Bajaj Housing Finance IPO?
As of September 2, 2024, the latest GMP is ₹55.50. GMP may fluctuate and will be updated regularly.
What is the company’s primary business?
Bajaj Housing Finance Limited specializes in mortgage lending, offering financial solutions for residential and commercial property purchases and renovations. Their product suite includes home loans, loans against property, lease rental discounting, and developer financing.
How is Bajaj Housing Finance positioned in the market?
As of March 31, 2024, Bajaj Housing Finance is a leading Housing Finance Company (HFC) in India. It is the largest non-deposit-taking HFC by Assets Under Management (AUM) and is recognized for strong financial performance and a diverse range of products.
Is there a special quota for shareholders?
Yes, shareholders of Bajaj Finserv and Bajaj Finance are eligible for a special quota. The record date for this quota is August 30, 2024.
Where will Bajaj Housing Finance shares be listed?
The shares will be listed on both the NSE (National Stock Exchange) and BSE (Bombay Stock Exchange).