If you are also planning to invest in IPO and have missed investing in the issues that have come so far, then this news is special for you. Actually, Bajaj Housing Finance, the finance company of Bajaj Group, one of the oldest business houses in the country, is going to bring its IPO. For this, the company has submitted documents to the market regulator SEBI. According to reports, the size of the issue of this Bajaj company will be Rs 7000 crore.
Bajaj’s IPO will be worth Rs 7000 crore
According to the Draft Red Herring Prospectus (DRHP) submitted by Bajaj Finance with SEBI, the company has planned to raise Rs 7,000 crore through IPO (Bajaj Housing Finance IPO Size). According to reports, the documents submitted to SEBI state that under this issue, the company will issue fresh shares worth up to Rs 4,000 crore, while equity shares worth Rs 3,000 crore will be sold through Offer for Sale (OFS).
The company earned tremendous profit in FY24
It is worth noting that Bajaj Housing Finance Company is a non-deposit taking housing finance company, which is registered with the National Housing Bank since September 2015. This company of Bajaj Group provides financial solutions for the purchase or renovation of residential and commercial properties. If we look at the balance sheet of the company, the private lender earned a net profit of Rs 1,731 crore in FY 2024, which is 38 percent more than the Rs 1,258 crore recorded in the previous FY 2023.
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RBI has set a deadline for these companies!
Bajaj Housing Finance has submitted DHRP to SEBI following the rules of the Reserve Bank of India (RBI). According to which, to avoid RBI’s ‘upper-layer’ NBFC tag, companies must be listed in the stock market by September 2025. According to a report last year, on September 14, 2023, RBI released a list of 15 NBFCs, which included the names of companies in the upper-layer category.
Bajaj Housing Finance has chosen Kotak Mahindra Capital, Axis Capital, BofA Securities, JM Financial and SBI Capital as advisors for its IPO. It is worth noting that recently two companies of the housing finance sector, Aadhaar Housing and India Shelter Finance, have been listed in the stock market and Bajaj Housing Finance is going to be added to this list soon.
(Note- It is important to take advice from your market experts before making any investment in the stock market or IPO market.)