Apex Ecotech Limited IPO...
20 Nov 2024
Bajaj Housing Finance Limited IPO And Its GMP
Bajaj Housing Finance Limited is a non-deposit-taking Housing Finance Company (“HFC”), registered with the National Housing Bank (“NHB”) since September 24, 2015 and engaged in mortgage lending since Fiscal 2018. They have been identified and categorized as an “Upper Layer” NBFC ("NBFC-UL”) in India by the RBI since September 30, 2022, as part of its “Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs” dated October 22, 2021.
The company offers financial solutions tailored to individuals and corporate entities for the purchase and renovation of homes and commercial spaces.
-
Their mortgage product suite is comprehensive and comprises:
- ● Home loans.
- ● Loans against property (“LAP”).
- ● Lease rental discounting.
- ● Developer financing.
-
IPO OVERVIEW
- Issue Size: ₹6,560 crore
- ● Fresh Issue: ₹3,560 crore (50.86 crore shares)
- ● Offer for Sale: ₹3,000 crore (42.86 crore shares)
- IPO Dates:
- ● Opens: September 9, 2024
- ● Closes: September 11, 2024
- Price Band: ₹66 to ₹70 per share
- Minimum Lot Size: 214 shares
- Book Running Lead Managers:
- ● Kotak Mahindra Capital Company Limited
- ● BofA Securities India Limited
- ● Axis Capital Limited
- ● Goldman Sachs (India) Securities Private Limited
- ● SBI Capital Markets Limited
- ● JM Financial Limited
- ● IIFL Securities Ltd
- Registrar: Kfin Technologies Limited
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Bajaj Housing Finance Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 16-09-2024 | 70 | 72 (102.86%) | 16-Sep-2024 13:40 |
| 13-09-2024 | 70 | 77.5 (111%) | 13-Sep-2024 12:35 |
| 12-09-2024 | 70 | 78.0 (111%) | 12-Sep-2024 12:45 |
| 11-09-2024 | 70 | 69.5 (99%) | 11-Sep-2024 12:15 |
| 10-09-2024 | 70 | 66.0 (94%) | 10-Sep-2024 12:05 |
| 09-09-2024 | 70 | 57.0 (81%) | 09-Sep-2024 12:20 |
| 06-09-2024 | 70 | 52.5 (75%) | 06-Sep-2024 12:15 |
| 05-09-2024 | 70 | 50.0 (71%) | 05-Sep-2024 13:15 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Bajaj Housing Finance IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹66 to ₹70 per share |
| Lot Size | 214 Shares |
| Total Issue Size | 937,142,858 shares (aggregating up to ₹6,560.00 Cr) |
| Fresh Issue | 508,571,429 shares (aggregating up to ₹3,560.00 Cr) |
| Offer for Sale | 428,571,429 shares of ₹10 (aggregating up to ₹3,000.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Shareholding pre issue | 7,819,575,273 |
| Share holding post issue | 8,328,146,702 |
Bajaj Housing Finance IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Bajaj Housing Finance Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 214 | ₹14,980 |
| Retail (Max) | 13 | 2782 | ₹194,740 |
| S-HNI (Min) | 14 | 2,996 | ₹209,720 |
| S-HNI (Max) | 66 | 14,124 | ₹988,680 |
| B-HNI (Min) | 67 | 14,338 | ₹1,003,660 |
Bajaj Housing Finance Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Bajaj Housing Finance IPO Promoter Holding
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
Company & Financials
Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018. The company is part of the Bajaj Group, a diversified group of companies with interests in various sectors. Bajaj Housing Finance provides customized financial solutions to individuals and corporations for the purchase and renovation of homes and commercial spaces.
-
The company's mortgage product range is comprehensive and includes:
- 1. Home loans.
- 2. Loan against property (LAP).
- 3. Rent concessions.
- 4. Developer finance.
As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers. The Company has a network of 215 branches in 174 locations across 20 states and three union territories, overseen by six centralized retail loan review centers and seven centralized loan processing centers.
Bajaj Housing Finance Limited Financial Information
| Period Ended | 30 June 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 88,538.83 | 81,827.09 | 64,654.14 | 48,527.08 | ||||||||||||||||||||||||||||||||||||
| Revenue | 2,208.73 | 7,617.71 | 5,665.44 | 3,767.13 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 482.61 | 1,731.22 | 1,257.8 | 709.62 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 14,719.91 | 12,233.5 | 10,503.19 | 6,741.36 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 4,252.83 | 5,520.81 | 3,791.03 | 1,858.03 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 73,347.06 | 69,129.32 | 53,745.39 | 41,492.32 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 5.7 |
| RoNW | 3.6% |
| P/BV | 3.72 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.21 | 2.32 |
| P/E (x) | 31.62 | 30.2 |
Objectives of Bajaj Housing Finance IPO
The company intends to utilize the net proceeds towards the following objective:
1. Augment capital base to meet future business requirements of the company towards onward lending.
Shareholder Reservation Portion:
The company has reserved Rs 5000 million worth of shares under shareholder quota.
Eligible Shareholders of Bajaj Finance Limited and Bajaj Finserv Limited as of the Red Herring Prospectus date, i.e. August 30, 2024, would be eligible to apply for this Offer under the Shareholder's Reservation Portion.
Only Bids received at or above the Offer Price will be considered in this category.
The Shareholder portion shall be at most 10% of the size of the Offer.
Bajaj Housing Finance IPO Review
This is the Bajaj group’s housing finance arm carrying the group’s legacy. It is the second-largest and fastest-growing entity in the segment. It marked steady growth in its top and bottom lines for the reported periods. Based on FY25 annualized earnings, the issue appears fully priced. It’s a pure long-term story and investors may park moderate funds for adding this company as a portfolio investment.
FAQs for Bajaj Housing Finance IPO
-
What is Bajaj Housing Finance IPO?
Bajaj Housing Finance's IPO is a main-board IPO. It will raise ₹6,560 Crores. The issue is priced at ₹65 to ₹70 per equity share. The IPO will be listed on BSE and NSE.
-
When will the Bajaj Housing Finance IPO open?
The IPO will open on September 9, 2024, for QIB, NII, and Retail Investors.
-
What is the Bajaj Housing Finance IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Bajaj Housing Finance IPO Size?
Bajaj Housing Finance's IPO size is ₹6,560 crores.
-
What is the Bajaj Housing Finance IPO Price Band?
Bajaj Housing Finance IPO Price Band is ₹65 to ₹70.
-
What is the Bajaj Housing Finance IPO Allotment Date?
Bajaj Housing Finance IPO allotment date is September 12, 2024.
-
What is the Bajaj Housing Finance IPO Listing Date?
Bajaj Housing Finance IPO listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
-
What is the current GMP of Bajaj Housing Finance?
The current GMP of Bajaj Housing Finance is 72 (102.86%).
RHP:
RHP of Bajaj Housing Finance Limited IPO.
DRHP:
DRHP of Bajaj Housing Finance Limited IPO.
-
What is Bajaj Housing Finance IPO?
Bajaj Housing Finance's IPO is a main-board IPO. It will raise ₹6,560 Crores. The issue is priced at ₹65 to ₹70 per equity share. The IPO will be listed on BSE and NSE.
-
When will the Bajaj Housing Finance IPO open?
The IPO will open on September 9, 2024, for QIB, NII, and Retail Investors.
-
What is the Bajaj Housing Finance IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Bajaj Housing Finance IPO Size?
Bajaj Housing Finance's IPO size is ₹6,560 crores.
-
What is the Bajaj Housing Finance IPO Price Band?
Bajaj Housing Finance IPO Price Band is ₹65 to ₹70.
-
What is the Bajaj Housing Finance IPO Allotment Date?
Bajaj Housing Finance IPO allotment date is September 12, 2024.
-
What is the Bajaj Housing Finance IPO Listing Date?
Bajaj Housing Finance IPO listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
-
What is the current GMP of Bajaj Housing Finance?
The current GMP of Bajaj Housing Finance is 72 (102.86%).
Read More IPO related blogs- Shubhshree Biofuels Energy Limited IPO
_Limited_IPO_right.jpg)
_Limited_IPO_right.jpg)
_Mobility_&_Hospitality_Limited_IPO_right.jpg)
