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The Bajaj Housing Finance Initial Public Offering (IPO) represents a significant event in the Indian financial market. The IPO, which opened for public subscription on September 9, 2024, and concluded on September 11, 2024, aimed to raise a substantial Rs 6,560 crore. The IPO included a fresh issue of equity shares valued up to Rs 3,560 crore and an offer-for-sale (OFS) of Rs 3,000 crore by the parent company, Bajaj Finance. This move signifies Bajaj Housing Finance's ambition to expand its operations and capitalize on the growing demand for housing finance in India.
The price band for the IPO was set between Rs 66 and Rs 70 per share, reflecting the company's strong financial performance and potential for future growth. Proceeds from the fresh issue will be utilized to strengthen the company's capital base, ensuring its readiness to meet future capital needs. The book-running lead managers for the IPO included prominent financial institutions such as Kotak Mahindra Capital Company, BoFA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities. Kfin Technologies was appointed as the registrar for the IPO, overseeing the process of managing the IPO and ensuring transparency throughout.
The IPO is expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on September 16, 2024. The successful listing will mark an important milestone for Bajaj Housing Finance, enabling the company to access a wider pool of investors and fuel its growth ambitions. As a leading player in the housing finance sector, Bajaj Housing Finance is well-positioned to benefit from the robust growth in the Indian real estate market. The IPO's success will likely attract attention from investors seeking to invest in established players in the growing housing finance sector. Investors are keenly awaiting the listing and the initial trading performance of the Bajaj Housing Finance shares.
Source: Bajaj Housing Finance IPO 2024 Live Updates: GMP, IPO Allotment Status, Listing Date and Time