Bajaj Housing Finance IPO Day 1 Highlights: Issue subscribed 2.01 times so far, NIIs lead; check key dates and more

The initial public offering has been subscribed 2.01 times so far on Monday.

• Qualified institutional buyers (QIBs): 1.07 times
• Non institutional investors (NIIs): 4.35 times
• Retail individual investors (RIIs): 1.50 times

The issue has been subscribed 1.56 times so far. The retail investors quota has been subscribed 1.33 times, while the non-institutional investors (NIIs) category saw 3.43 times the subscription. The portion for qualified institutional buyers (QIBs) was booked just 48%.

The initial public offering has been subscribed 1.25 times so far on Monday.

• Qualified institutional buyers (QIBs): 0.36 times
• Non institutional investors (NIIs): 2.71 times
• Retail individual investors (RIIs): 1.10 times

• Bidding period: September 9 to September 11
• Allotment finalisation: September 12
• Refund initiation: September 13
• Demat transfer: September 13
• Listing: September 16

The issue has been subscribed 84% so far. The retail investors quota has been subscribed 83%, while the non-institutional investors (NIIs) category saw 1.92 times the subscription. The portion for qualified institutional buyers (QIBs) was booked just 2%.

The issue has been subscribed 50% so far on Monday, the first day of bidding.

• Qualified institutional buyers (QIBs): 0.01 times
• Non institutional investors (NIIs): 0.99 times
• Retail individual investors (RIIs): 0.55 times

The issue has been subscribed 24% so far. The retail investors quota has been subscribed 27%, while the non-institutional investors (NIIs) category saw 0.49 times the subscription.

The money raised from the fresh issuance of shares will be used to augment the company's capital base to meet future business requirements.

Bajaj Housing Finance IPO opened for subscription on Monday, September 9. The initial public offering, with a price range of ₹66-₹70 per share, will conclude on September 11.

The ₹6,560 crore initial share sale is a combination of a fresh of shares worth ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by the parent company Bajaj Finance.

Before the IPO, the company mobilised ₹1,758 crore on Friday from anchor investors, including Government of Singapore, Fidelity, Abu Dhabi Investment Authority, Nomura, Goldman Sachs, Morgan Stanley, JP Morgan India Investment Trust Plc, ICICI Prudential Life Insurance Company, SBI Life Insurance Company, HDFC Mutual Fund (MF), SBI MF, Kotak Mahindra MF, UTI MF and Nippon India MF.

The company has allotted 25.11 crore shares to 104 funds at ₹70 apiece, the upper price band, taking the transaction size to ₹1,758 crore.

The IPO is being conducted to comply with the Reserve Bank of India's (RBI) regulations, which require upper-layer non-banking finance companies or NBFCs to be listed on stock exchanges by September 2025.

The money raised will be used to swell the company's capital base to meet future capital requirements.

About Bajaj Housing Finance

Bajaj Housing Finance, established in 2008, is a non-deposit-taking housing finance company offering home loans, lease rental discounting, loans against property (LAP) and developer financing.

For the financial year 2023-24 (FY24), the housing lender reported a net profit of ₹1,731 crore, up 38% from ₹1,258 crore in FY23.

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