Wed Sep 11 06:00:27 UTC 2024: ## Bajaj Housing Finance IPO Oversubscribed, Strong Interest From Investors

**Mumbai, India** – The highly anticipated initial public offering (IPO) of Bajaj Housing Finance, a subsidiary of the Bajaj Group, is set to close today after receiving overwhelming response from investors. The ₹6,560-crore IPO, priced at ₹66-70 per share, was oversubscribed 7.5 times.

The strong demand was evident across all investor categories. Qualified Institutional Buyers (QIBs) were particularly active, subscribing 7.46 times their allotted portion. Non-Institutional Investors (NIIs) and retail investors saw even greater enthusiasm, subscribing 16.46 times and 3.84 times their respective portions.

The IPO comprises a fresh issue of equity shares worth ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by parent company Bajaj Finance. The minimum lot size for application was 214 shares.

The company garnered ₹1,758 crore from anchor investors on Friday, allocating 25.11 crore shares to 104 funds at ₹70 apiece. Notable investors included the Government of Singapore, New World Fund Inc, Abu Dhabi Investment Authority, Fidelity, Morgan Stanley, and several leading Indian financial institutions.

The proceeds from the IPO will be used to support Bajaj Housing Finance’s growth plans, enhance its capital base, and provide resources to meet future business needs. The IPO also complies with the Reserve Bank of India’s (RBI) regulations requiring upper-layer non-banking financial companies (NBFCs) to be listed on stock exchanges by September 2025.

Bajaj Housing Finance, registered with the National Housing Bank since 2015, offers a comprehensive range of mortgage products including home loans, loans against property, and developer financing. The company reported a strong net profit of ₹1,731 crore in FY24, marking a 38% increase from the previous year.

The IPO is being managed by Kotak Mahindra Capital Company Ltd, Bofa Securities India Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, SBI Capital Markets Ltd, Jm Financial Ltd, and IIFL Securities Ltd.

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