Bajaj Housing Finance IPO opens on Sept 6 at ₹66-70 price band

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The initial public offering of Bajaj Housing Finance will be open to public on September 6 and close on September 11. The total offer size is ₹6,560 crore — a fresh issue of ₹3,560 crore and an offer for sale of ₹3,000 crore by Bajaj Finance (promoter selling shareholder). The company has fixed the price band as ₹66-70 a share.

The company intends to utilise the net proceeds of the offer towards augmenting its capital base to meet future business requirements of the company towards onward lending.

Bids can be made for a minimum of 214 equity shares.

The offer is being made through the book building process wherein in not more than 50 per cent would be available for qualified institutional buyers. up to 15 per cent for non-institutional bidders and 35 per cent for retail bidding.

According to its IPO paper, up to ₹200 crore has been reserved for eligible employees and ₹500 crore for shareholders of Bajaj Finance and Bajaj Finserv. The shares are proposed to be listed on the BSE and the National Stock Exchange of India.

Kotak Mahindra Capital Company, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities are the book running lead managers to the offer.

Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank since September 2015. It offers financial solutions for purchasing and renovating residential and commercial properties.