Bajaj Housing Finance IPO Opens September 9: Bid Till September 11, Minimum Investment ₹14,980
Bajaj Housing Finance IPO Set to Open on September 9 with Price Band of ₹66-₹70 Per Share
Bajaj Housing Finance is launching its IPO on September 9, with a price band set at ₹66-₹70 per share. The company aims to raise ₹6,560 crores through this IPO. The offering will remain open for investors until September 11.
Of the total ₹6,560 crores, ₹3,560 crores will come from fresh share issuance, while ₹3,000 crores will be raised through an Offer-for-Sale (OFS).
Minimum Investment Set at ₹14,980
Retail investors can place bids for a minimum of one lot, consisting of 214 shares. If you apply at the upper price band of ₹70 per share, the minimum investment required will be ₹14,980.
Fund Utilization to Enhance Lending Capacity
The company plans to use the funds raised through the IPO to strengthen its capital base, which will help meet future business requirements and increase its loan disbursement capacity.
Company Financials
In Q4, Bajaj Housing Finance reported a net profit of ₹381 crores, reflecting a 26% year-on-year (YoY) growth. The company’s net interest income rose by 11% YoY to ₹629 crores. Additionally, the Assets Under Management (AUM) grew by 32% YoY, reaching ₹91,370 crores. The company’s total net income for Q4 also increased by 14% YoY to ₹717 crores. There was a 26% annual growth in loan disbursements as well.
What is an IPO?
An Initial Public Offering (IPO) occurs when a company offers its shares to the public for the first time. Companies usually go for an IPO to raise capital for business expansion. Instead of taking loans from the market, the company raises funds by selling shares to the public or issuing new shares. This is why companies bring an IPO to the market.
