Bajaj Housing Finance Ltd has announced a price band of Rs 66-70 per share for its upcoming initial public offering (IPO), scheduled to open on September 9. The IPO will include a fresh issue of up to Rs 3,560 crore and an offer for sale of up to Rs 3,000 crore by its parent company, Bajaj Finance Ltd. At the upper end of the price band, the company’s total market capitalization is expected to be around Rs 58,300 crore.
The anchor bidding for the IPO will commence on September 6, with the issue closing on September 11. The basis of allotment is set for September 12, refunds will be processed on September 13, and the stock is expected to list on the exchanges on September 16.
Book-running lead managers for the issue: Kotak Mahindra Capital, BofA Securities, Axis Capital, JM Financial Ltd, IIFL Securities, Goldman Sachs, and SBI Capital Markets. Cyril Amarchand Mangaldas is the legal advisor.
The IPO is also in line with the central bank’s latest guidelines that mandated “upper layer” NBFCs to list their shares within three years from the date of notification. In case of Bajaj Housing Finance, this falls by September 2025. Headquartered in Pune, Bajaj Housing Finance currently services over 76.5 million customers across the country, offering finance to both individual and corporate clients for purchasing and renovating homes or commercial spaces.\
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Source: Moneycontrol
News Desk
