Bajaj Housing Finance has raised Rs 1758 crore from marquee anchor investors ahead of its IPO, which will open for subscription on September 9.
The company allocated the shares at around Rs 70 apiece, which is the upper price band for the public offer.
Marquee anchor investors who subscribed to the anchor include Government of Singapore, ADIA, Fidelity, Invesco, HSBC, Morgan Stanley, Nomura, JP Morgan among others.
The company, promoted by Bajaj Finance and Bajaj Finserv, will raise around Rs 6560 crore through the public offer, which is a combination of Rs 3560 crore worth fresh equity sale and an offer for sale (OFS) of Rs 3,000 crore.
The price band for the issue is fixed at Rs 66-70 per share.
About 50% of the offer is reserved for qualified institutional buyers (QIB), 15% for non-institutional investors and the rest 35% for retail investors.
The public offer includes a reservation of equity shares for subscription by eligible employees and a reservation for subscription by eligible shareholders of promoters including individuals and HUFs who are public equity shareholders of the promoters.
Net proceeds from the public offer will be used for augmenting the company’s capital base to meet future business requirements of the company towards onward lending.
Bajaj Housing Finance is a non-deposit taking HFC registered with the National Housing Bank since September 2015, offering tailored financial solutions for purchasing and renovating residential and commercial properties.
It has also been identified and categorized as an upper layer NBFC by the RBI in India and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.
The company primarily focuses on individual retail housing loans, supported by a diverse range of commercial and developer loans, serving customers from homebuyers to large developers.
For the fiscal year 2023-24, the housing lender posted a net profit of Rs 1,731 crore, marking a growth of 38% from Rs 1,258 crore in FY23.
Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities are the book running lead managers to the issue.
