The Bajaj Housing Finance IPO is perhaps going to be the most remarkable IPO in September 2024. The company is expected to mop up Rs 7,000 crore from this issue. Investors are eagerly looking forward to the announcement of the price band and dates when the bidding process would start. The company has been in operation since June 2008.
According to reports so far, the Bajaj Housing Finance IPO would have a Rs 4,000-core fresh issue and Rs 3,000-crore OFS (offer for sale) part. Following the mainline IPO, the shares would be listed on both BSE and NSE.
GMP
Each equity share would carry a face value of Rs 10. The excitement with this IPO among investors is running so high that according to investorgain the GMP stands at Rs 41 on August 29, despite the company not announcing the price band of the shares so far.
The GMP or grey market premium indicates the premium at which a share is going to be listed over and above the upper band of the issue price. Though it is unofficial (as the name indicates), investors view it an a significant indicator on the listing gains that they are going to make.
Investors excited
According to reports, shares of Bajaj Finserv and Bajaj Finance rose in the markets in anticipation of this IPO. While shares of Bajaj Finserv went up by 5.87% in the past 5 days, those of Bajaj Finance gained 2.36% in the same time.
Company financials
Bajaj Housing Finance recorded a revenue of Rs 7,617.71 crore, Rs 5,665.44 crore and Rs 3,767.13 crore in FY24, FY23 and FY22 respectively. The PAT in these 3 years stood at Rs 1,731.22 crore, Rs 1,257.8 crore and 709.62 crore respectively. The reserves and surplus were recorded at Rs 5,520.81 crore, Rs 3,791.03 crore and Rs 1,858.03 crore in these 3 years. The total debt of the company stood at Rs 69,129.32 crore, Rs 53,745.39 crore and Rs 41,492.32 crore respectively.
RBI regulation
In June this year, the company filed a draft prospectus for the Rs 7,000-crore IPO with Sebi. It had to comply with the rules of the Reserve Bank of India (RBI) that enjoined listing of upper-layer non-banking finance companies on the stock markets by September 2025.
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Bajaj Housing Finance is a wholly owned subsidiary of Bajaj Finance. It provides home loans, loans against property, lease rental discounting and other services related to home finance. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
