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Bajaj Housing Finance IPO price set at ₹66-70 per share
The Bajaj Housing Finance Limited IPO price has been set at a price of ₹66-70 per share. The subscription date of Bajaj Housing Finance IPO is scheduled for September 9.
Bajaj Housing Finance Limited IPO Details
The fresh issue for Bajaj Housing Finance is set at ₹ 3,560 crore and offered for sale at ₹3,000 crore. The maximum price at the price band of the IPO is around ₹ 58,927 crore.
The IPO is scheduled to be closed on September 11. The starting of the anchor bidding will take place on September 6, and the completion of the distribution of IPO shares will be finalized on September 12. The date for inviting bids from anchor investors is set for September 6.
Shares Required for IPO is 214
Notably, the minimum price is 6.6 times higher the face value while the upper limit price is 7.0 times higher the equity shares. The minimum number of shares required for placing a bid for Bajaj Housing Finance IPO is 214, and subsequent bids will be submitted in groups of the same amount.
“Earlier, Bajaj Housing Finance mentioned that there was no upper limit for the shareholder quota bid; one could apply up to the total size of the shareholder quota, which is ₹500 crore. They also stated that if you applied for more than ₹2 lakh, you would not be eligible to apply in the retail or HNI categories. However, the company has now filed an addendum stating that the maximum bid limit in the shareholder quote is ₹2 lakh,” said Avinash Gorakshakar, Head-Research at Profitmart Securities.
Investment Considerations
The goal of the Bajaj Housing Finance IPO is to meet the Reserve Bank of India's (RBI) requirement that by September 2025, higher-tier non-banking financial institutions (NBFCs) are obligated to be listed on stock exchanges.
About Bajaj Housing Finance
Bajaj Housing Finance Limited, a part of Bajaj Finance Limited, provides financial services to both individuals and businesses for buying and renovating residential properties, as well as for commercial real estate.