Bajaj Housing Finance IPO is a book built issue of Rs 6,560.00 crores. The issue is a combination of fresh issue of 50.86 crore shares aggregating to Rs 3,560.00 crores and offer for sale of 42.86 crore shares aggregating to Rs 3,000.00 crores.
Bajaj Housing Finance IPO bidding started from September 9, 2024 and ended on September 11, 2024. The allotment for Bajaj Housing Finance IPO was finalized on Thursday, September 12, 2024. Bajaj Housing Finance IPO will be listed on BSE, NSE on September 16, 2024.
Bajaj Housing Finance IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 214 Shares. The minimum amount of investment required by retail investors is ₹14,980. The minimum lot size investment for sNII is 14 lots (2,996 shares), amounting to ₹209,720, and for bNII, it is 67 lots (14,338 shares), amounting to ₹1,003,660.
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 and Iifl Securities Ltd are the book running lead managers of the Bajaj Housing Finance IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Bajaj Housing Finance IPO RHP for detailed information.
Bajaj Housing Finance IPO Details
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 214 Shares |
| Total Issue Size | 937,142,858 shares (aggregating up to ₹6,560.00 Cr) |
| Fresh Issue | 508,571,429 shares (aggregating up to ₹3,560.00 Cr) |
| Offer for Sale | 428,571,429 shares of ₹10 (aggregating up to ₹3,000.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 7,819,575,273 |
| Share holding post issue | 8,328,146,702 |
Bajaj Housing Finance IPO Reservation
Bajaj Housing Finance IPO offers 93,71,42,865 shares. 16,74,28,580 (17.87%) to QIB, 12,55,71,430 (13.4%) to NII, 29,30,00,000 (31.27%) to RII, 2,85,71,428 (3.05%) to employees and 25,11,42,856 (26.8%) to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | 25,11,42,856 (26.8%) | NA |
| QIB Shares Offered | 16,74,28,580 (17.87%) | NA |
| NII (HNI) Shares Offered | 12,55,71,430 (13.4%) | |
| bNII > ₹10L | 8,37,14,286 (8.93%) | 27,942 |
| sNII < ₹10L | 4,18,57,143 (4.47%) | 13,971 |
| Retail Shares Offered | 29,30,00,000 (31.27%) | 13,69,158 |
| Employee Shares Offered | 2,85,71,428 (3.05%) | NA |
| Other Shares Offered | 7,14,28,571 (7.62%) | NA |
| Total Shares Offered | 93,71,42,865 (100%) |
Bajaj Housing Finance IPO Anchor Investors Details
Bajaj Housing Finance IPO raises Rs 1,758.00 crore from anchor investors. Bajaj Housing Finance IPO Anchor bid date is September 6, 2024. Bajaj Housing Finance IPO Anchor Investors list
| Bid Date | September 6, 2024 |
| Shares Offered | 251,142,856 |
| Anchor Portion Size (In Cr.) | 1,758.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 12, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 11, 2024 |
Bajaj Housing Finance IPO Timeline (Tentative Schedule)
Bajaj Housing Finance IPO opens on September 9, 2024, and closes on September 11, 2024.
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Bajaj Housing Finance IPO Lot Size
Investors can bid for a minimum of 214 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 214 | ₹14,980 |
| Retail (Max) | 13 | 2782 | ₹194,740 |
| S-HNI (Min) | 14 | 2,996 | ₹209,720 |
| S-HNI (Max) | 66 | 14,124 | ₹988,680 |
| B-HNI (Min) | 67 | 14,338 | ₹1,003,660 |
| Lot Size Calculator | |||
Bajaj Housing Finance IPO Promoter Holding
Bajaj Finance Limited and Bajaj Finserv Limited are the company promoters.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 87.8% |
About Bajaj Housing Finance Limited
Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018.
The company is part of the Bajaj Group, a diversified group of companies with interests in various sectors. Bajaj Housing Finance provides customized financial solutions to individuals and corporates for the purchase and renovation of homes and commercial spaces. The company’s mortgage product range is comprehensive and includes (i) home loans, (ii) loan against property (LAP), (iii) rent concessions, and (iv) developer finance.
As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
The Company has a network of 215 branches in 174 locations across 20 states and three union territories, overseen by six centralized retail loan review centers and seven centralized loan processing centers.
Company Financials
Bajaj Housing Finance Limited Financial Information (Restated)
Bajaj Housing Finance Limited’s revenue increased by 34% and profit after tax (PAT) rose by 38% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 88,538.83 | 81,827.09 | 64,654.14 | 48,527.08 | ||||||||||||||||||||||||||||||||||||
| Revenue | 2,208.73 | 7,617.71 | 5,665.44 | 3,767.13 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 482.61 | 1,731.22 | 1,257.8 | 709.62 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 14,719.91 | 12,233.5 | 10,503.19 | 6,741.36 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 4,252.83 | 5,520.81 | 3,791.03 | 1,858.03 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 73,347.06 | 69,129.32 | 53,745.39 | 41,492.32 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Bajaj Housing Finance IPO is Rs 58297.03 Cr.
KPI as of June 30, 2024.
| KPI | Values |
|---|---|
| Debt/Equity | 5.7 |
| RoNW | 3.6% |
| P/BV | 3.72 |
Check Bajaj Housing Finance IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.21 | 2.32 |
| P/E (x) | 31.62 | 30.2 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.
Objects of the Issue (Bajaj Housing Finance IPO Objectives)
The company intends to utilize the net proceeds towards the following objective:
- Augment capital base to meet future business requirements of the company towards onward lending.
Bajaj Housing Finance IPO Review (Apply)
[Dilip Davda] This is the Bajaj group’s housing finance arm carrying the group’s legacy. It is the second largest and fastest growing entity in the segment. It marked steady growth in its top and bottom lines for the reported periods. Based on FY25 annualized earnings, the issue appears fully priced. It’s a pure long term story and investors may park moderate funds for adding this company as a portfolio investment. Read detail review…
Bajaj Housing Finance IPO Subscription Status (Bidding Detail)
The Bajaj Housing Finance IPO is subscribed 67.43 times on September 11, 2024 6:19:07 PM. The public issue subscribed 7.41 times in the retail category, 222.05 times in the QIB category, and 43.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 222.05 |
| NII | 43.98 |
| bNII (bids above ₹10L) | 50.53 |
| sNII (bids below ₹10L) | 30.88 |
| Retail | 7.41 |
| Employee | 2.13 |
| Others | 18.54 |
| Total | 67.43 |
Total Application : 8,907,250 (6.51 times)
Shareholder Reservation Portion: The company has reserved Rs 5000 million worth of shares under shareholder quota.
Eligible Shareholders of Bajaj Finance Limited and Bajaj Finserv Limited as of the Red Herring Prospectus date, i.e. August 30, 2024, would be eligible to apply for this Offer under the Shareholder’s Reservation Portion.
Only Bids received at or above the Offer Price will be considered in this category.
The Shareholder portion shall not exceed 10% of the size of the Offer.
Bajaj Housing Finance IPO Prospectus
- › Bajaj Housing Finance IPO DRHP
- › Bajaj Housing Finance IPO RHP
- › Anchor Investors in Bajaj Housing Finance IPO
Bajaj Housing Finance IPO Listing Details
| Listing Date | September 16, 2024 |
| BSE Script Code | 544252 |
| NSE Symbol | BAJAJHFL |
| ISIN | INE377Y01014 |
| Final Issue Price | ₹70 per share |
Pre-Open Session – NSE Pre-Open Session – BSE
Bajaj Housing Finance Limited Contact Details
Bajaj Housing Finance Limited
Bajaj Auto Limited Complex,
Mumbai-Pune Road,
Akurdi, Pune – 411035
Phone: +91 20 7187806
Email: bhflinvestor.service@bajajfinserv.in
Website: https://www.bajajhousingfinance.in/
Bajaj Housing Finance IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bhfl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/