Bajaj Housing Finance, a non-banking financial company (NBFC), is set to launch its initial public offering (IPO) next week. The IPO is expected to raise Rs 6,560 crore and is being closely watched by investors. With the RBI requiring NBFCs to list, at least three more 'upper layer' NBFCs are expected to follow suit in the coming year, including Tata Capital Financial Services, HDB Financial Services, and Aditya Birla Finance. These listings not only fulfill regulatory requirements but also offer opportunities for growth and access to capital.
The Reserve Bank of India (RBI) has announced a lowered public float requirement for companies looking to list on the International Financial Services Centre (IFSC) in India. This move is aimed at promoting and encouraging more listings on the IFSC. Additionally, the RBI has also allowed NBFC depositors to withdraw their entire amount prematurely and has cancelled the registration for several NBFCs due to irregular lending. Bajaj Finance, a leading NBFC, has also forged partnerships with several companies in the commercial vehicle and housing finance sectors, further strengthening their presence in the market.
The long-awaited initial public offering of Bajaj Housing Finance has been announced, with a price band of Rs 66-70 per share and a total size of Rs 6,560 crore. The IPO will open on September 9 and conclude on September 11, with share allotment and listing dates set for September 12 and 16 respectively. Parent company Bajaj Finance will be selling equity shares worth Rs 3,000 crore as part of the offering.
Bajaj Housing Finance has officially announced the price band for its upcoming IPO, launching on September 9th, 2024. The public listing includes a fresh issue of equity shares and an offer-for-sale by parent company Bajaj Finance. The company aims to comply with RBI norms by listing its shares and the proceeds raised will be used to enhance its capital base and meet its financial needs. Don't miss the chance to bid for the issue this week, with the final allotment and debut in the stock market happening in mid-September.
Bajaj Housing Finance is filing for an IPO to raise INR 7,000 crore, with INR 4,000 crore through fresh equity shares and INR 3,000 crore through an offer for sale by parent company Bajaj Finance. The IPO is in compliance with RBI regulations for NBFCs to be listed by 2025. The proceeds will be used for future capital requirements. Bajaj Housing Finance offers housing finance solutions and saw a 38% growth in profitability in FY24. This comes after other housing finance companies, Aadhar Housing Finance and India Shelter Finance, were recently listed on stock exchanges.