Bajaj Housing Finance is into Financial Services Housing Finance sector and is looking raise funds through Fresh Issue and Offer For Sale
IPO Summary
Bajaj Housing Finance IPO is a public offering of shares by Bajaj Finance Limited and Bajaj Finserv Limited. The IPO will open on September 09 and will close on September 11. The price band is ₹66 to ₹70 per share and the lot size is 214 shares. The issue size is ₹6,560. crore. The shares are expected to be listed on NSE, BSE on September 16 (^). Some additional information that you may find useful are:-
Financial Snapshot
- Income (Rs Crores): Rs7617.7 in FY24 (v/s Rs5665.4 in FY23)
- PAT (Rs Crores): Rs1731.2 in FY24 (v/s Rs1257.8 in FY23)
- PAT Margins (%): _ in FY24 (v/s _ in FY23)
- Total Borrowings (Rs Crores): Rs 69,129.3 in FY24 (v/s Rs 53,745.3 in FY23)
- EPS (Rs/share): 2.6 in FY24 (v/s 1.9 in FY23)
Promoters of the company are Bajaj Finance Limited and Bajaj Finserv Limited Currently promoters hold 100% stake in the company. While post-equity promoters stake will be 88.75%
- Company aims to raise between Rs 6,560 to 6,560 crs through this IPO.
- The net proceeds of the issue will be utilized to 1) Augmenting capital base to meet future business requirements of the company towards onward lending
- Anchor bidding is expected to commence one day prior to the IPO dates. Tentative anchor bidding date would be 06-Sep-24.
- Price band for the IPO has been fixed at Rs 66 to 70 per share and bid lot are in multiple of 214 shares. The implied market cap post-issue at Rs 55,169 to 58,297 crs.
- As per the tentative schedule, allotment date of this IPO is most likely on September 12 and share are expected to be listed on NSE, BSE on September 16.
- Company has direct peer competition in India'a Housing Finance sector. In Listed space peers include CanFin homes Ltd., LIC Housing Finance Ltd., PNB Housing Finance Ltd., Aadhar Housing Finance Ltd., Aavas Fianciers Ltd., Aptus Value Housing Finance India Ltd., Home First Finance Company India among others.
- Kotak Mahindra Capital, BofASecurities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, IIFL Securities has been appointed as Merchant Banker to the issue. KFin Technologies Ltd. has been appointed as official registrar of the issue.
- Company has not undertaken Pre-IPO placement.
Key Pointers of Bajaj Housing Finance IPO:
| Bajaj Housing Finance Limited IPO Snapshot | UdhyamPitch on X | |||
|---|---|---|---|
| Established | City | Sector | Sub-Sector |
| 2008 | Pune | Financial Services | Housing Finance |
| Issue | Issue Type | Tentative Listing Date | Listing at |
| IPO (Fresh+OFS) | Book Building | 16-Sep-24 | NSE, BSE |
| IPO Dates | Price Band (Rs/sh) | Face Value (Rs/sh) | Min Lot Qty |
| 09-Sep-24 to 11-Sep-24 | ₹ 66 to 70 per sh | ₹ 10 per sh | 214 sh and in multiples |
| Retail App (min) | Retail App (max) | Non-Retail (Rs2-10L App) | Non-Retail (>Rs10L min App) |
|
214 shares ₹ 14,980 |
2,782 shares up to ₹ 194,740 |
2,996 to 14,124 shares ₹ 209,720 to 988,680 |
14,338 shares and above ₹ 1,003,660 and above |
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
About Bajaj Housing Finance Limited
Incorporated in 2008 and promoted by Bajaj Finance Limited and Bajaj
Finserv Limited. Company is a non-deposit taking Housing Finance Company
registered with the National Housing Bank (NH) since September 24, 2015,
offering tailored financial solutions for purchasing and renovating
residential and commercial properties. Company's primarily focus is on
individual retail housing loans, diverse range of commercial and
developer loans, serving customers from homebuyers to large developers.
-
Key Indicators
- Share of Home Loans/LAP/LRD/Developer Finance/Others in FY24 at 57.8%/10.5%/19.1%/10.5%/1.9%
- AUM grew at a CAGR of 31% to Rs 91,370.4 crores during FY22-24
- Segment wise AUM for Home Loans/LAP/LRD/Developer Finance for FY24 at Rs 52,819.6 / Rs 9,567.9 / Rs 17,636.8 / Rs 9,599.3 crores
- Gross NPA for FY24 / FY23 / FY22 at 0.3%/0.2%/0.3%
- Net NPA for FY24 / FY23 / FY22 at 0.1%/0.1%/0.1%
- Credit Cost for FY24 / FY23 / FY22 at 0.1%/0.2%/0.5%
- Borrowing Mix at 51%/35%/10%/4%/0% for Bank Borrowings / NCD / NHB / CP / Others
-
Financial Snapshot
- Income (Rs Crores): Rs7617.7 in FY24 (v/s Rs5665.4 in FY23)
- PAT (Rs Crores): Rs1731.2 in FY24 (v/s Rs1257.8 in FY23)
- PAT Margins (%): _ in FY24 (v/s _ in FY23)
- Total Borrowings (Rs Crores): Rs 69,129.3 in FY24 (v/s Rs 53,745.3 in FY23)
- EPS (Rs/share): 2.6 in FY24 (v/s 1.9 in FY23)
About Industry
India has very low penetration in terms of housing finance as compared to other economies which shows a high potential for expansion of Indian housing finance companies. The Indian housing finance market clocked a healthy CAGR of 12.6% (growth in credit outstanding) during FY19-23, on account of rise in disposable incomes, healthy demand, and greater number of players entering the segment. Going forward, CRISIL MI&A expects overall housing segment to grow at a CAGR of 13-15% from FY23-27.
| Bajaj Housing Finance Limited IPO Dates | UdhyamPitch on X | |
|---|---|
| Anchor Open | 06-Sep-24 |
| IPO Open | 09-Sep-24 |
| IPO Close | 11-Sep-24 |
| Allotment | 12-Sep-24 |
| Credit of Shares | 13-Sep-24 |
| Refund | 13-Sep-24 |
| Listing | 16-Sep-24 |
| Anchor Investor Lockin (50% of Anchor book investment) | |
| Anchor Investor Lockin (Balance 50% of Anchor book investment) | |
Kindly note UPI Mandate deadline is 5:00 pm IST on closing date. To avoid last minute issue, request you to approve UPI mandate before 4:00 pm IST on last day. In case, UPI mandate has not been approved during the prescribed time period, applications are liable to get rejected.
There are highly chances of variation in dates. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Bajaj Housing Finance Limited IPO - Management Details: | |
|---|---|
|
Sanjivnayan Bajaj, Chairman and Non-Executive Director He has obtained a bachelor’s degree in engineering (mechanical) with distinction from University of Pune in 1991, a master’s degree in science (manufacturing systems engineering) with distinction from University of Warwick, U.K. in 1994 and a master’s degree in business administration from Harvard Business School, U.S.A. in 1997. He has more than 27 years of experience in various areas including business strategy, marketing, finance, investment, audit, legal and IT related functions in auto and financial services sectors. |
|
|
Rajeev Jain, Vice Chairman and Non-Executive Director He holds a post-graduate diploma in management from the T.A. Pai Management Institute, Manipal and has more than 30 years of experience in the consumer lending industry. He has been associated with the Company for over a decade. He has several years of experience in managing diverse consumer lending businesses viz., auto loans, durables loans, personal loans and credit cards. He is also the managing director of Bajaj Finance Limited. |
|
|
Atul Jain, Managing Director He holds a bachelor’s degree in commerce (honours in accounting) and a master’s degree in business administration, each from Punjabi University, Patiala. He hasover 24 years of experience in the financial, investment banking and retail finance sectors and was previously associated with PNB Capital Services Limited as a project executive and with Prudential Capital Markets Limited. He joined the Bajaj group on June 10, 2002, and joined the Company with effect from April 1, 2018. |
|
|
Gaurav Kalani, Chief Financial Officer He holds a bachelor’s degree in commerce (non-collegiate) from Maharshi Dayanand Saraswati University, Ajmer. He is a chartered accountant registered with the Institute of Chartered Accountants of India. He joined the Bajaj group in April 3, 2003 and joined the Company with effect from April 1, 2018. |
|
|
Atul Patni, Company Secretary and Compliance Officer He has passed the part III examination for bachelor’s degree (honours) in commerce and the LLB II Year (New Scheme) examination for bachelor’s degree in law, each from the University of Rajasthan, and a post graduate diploma in management with specialisation in finance from Institute of Rural Management, Jaipur. He is a fellow member of the Institute of Company Secretaries of India. He also holds a post graduate diploma in securities law from Government Law College, Mumbai, and is a Chartered Associate of India Institute of Bankers certified by Indian Institute of Banking and Finance. He has over 13 years of experience in the financial sector, including over 10 years of experience in the banking sector. |
|
Visit DRHP / RHP for more details on Board of Directors and
Management details.
| Bajaj Housing Finance Limited IPO - Details of Offer/Issue Breakup | UdhyamPitch on X | |||||
|---|---|---|---|---|---|
| Category | Quota (%) | No of Shares-Lower | No of Shares-Upper | Value (Rs Cr)-Lower | Value (Rs Cr)-Upper |
| QIB (Incl Anchor) | 50 | NA | 418,571,429 | NA | 2,930. |
| Non-Retail (NII) | 15 | NA | 125,571,429 | NA | 879. |
| Non-Retail (NII): >Rs10L | NA | 83,714,286 | NA | 586. | |
| Non-Retail (NII): Rs2L-Rs10L | NA | 41,857,143 | NA | 293. | |
| Retail | 35 | NA | 293,000,000 | NA | 2,051. |
| Employee | NA | 28,571,429 | 200. | 200. | |
| Shareholder | NA | 71,428,571 | . | 500. | |
| NA=Not Available or Not Calculated | Upper= Upper Price Band | Lower=Lower Price Band | |||||
There are highly chances of variation in data. Users are requested to visit BSE, NSE, SEBI to gather information or read DRHP / RHP for more information.
| Bajaj Housing Finance Limited - IPO Merchant Bankers: |
|---|
| Kotak Mahindra Capital |
| BofASecurities |
| Axis Capital |
| Goldman Sachs (India) Securities |
| SBI Capital Markets |
| JM Financial |
| IIFL Securities |
| Bajaj Housing Finance Limited - IPO Registrar & Transfer Agent (RTA): |
|---|
|
KFin Technologies Ltd. Selenium, Tower B, Plot No 31 and 32, Financial District, Nanakramguda, Serilingampally HYDERABAD TELANGANA 500032 |
Check IPO Allotment status of Bajaj Housing FinanceIPO:
| Bajaj Housing Finance Limited - Anchor Lockin Dates and Details | |
|---|---|
| Anchor Investor Lockin (50% of Investment for 30 days) release of | |
| Anchor Investor Lockin (Balance Investment for 90 days) release of | |
Above information is automatically calculated based on estimations. Chances of errors/changes could be possible due to holidays and/or other conditions. Users are requested to Visit BSE, NSE, SEBI for more information or contact the Company/Merchant Banker/RTA for more information.
| Bajaj Housing Finance Limited - Documents | |
|---|---|
Disclaimer:
Above article only publishes details on the companies and about forthcoming / upcoming IPO' and are solely intended for educational purpose. We don't solicit or invite any interest of user to invest in any of the investment products. Please review DRHP/RHP/Prospectus for more details about the company, fundamentals and other details. Please visit respective sources to verify and know more details about the IPO. SME IPOs can be more volatile due to smaller market capitalization and liquidity. Prices may fluctuate significantly in response to market conditions. We advise users and/or investors to take opinion from certified and SEBI registered experts before taking any investment decisions.
| Source: SEBI, BSE, NSE |
|---|
FAQ
Posts
0 Comments