Bajaj Housing Finance IPO Day 1: Mainboard issue fully subscribed within hours of launch; Check key details

Bajaj Housing Finance Limited IPO saw decent demand on Monday, September 9, the first day of subscription, as the public issue was fully subscribed within hours of launch.

The mainboard issue received bids for over 86.54 crore shares against 72.75 crore shares set aside for the category, leading to an overall subscription of 1.19 times, as per the NSE data, till 2:10 pm.

The issue was subscribed 2.58 times in the Non-Institutional Investors (NIIs) category, with applications for 34.3 crore shares against 13.31 crore shares set aside for the segment. The retail portion was also fully subscribed with bids for 32.62 crore shares against 31.07 crore shares set aside for the category. The Qualified Institutional Buyers (QIBs) placed bids for 6.41 crore shares against 17.75 crore shares reserved for the category, leading to a subscription of 36%. The employees’ portion was subscribed 22% with bids for 67.59 lakh shares compared to 3.03 crore shares set aside for the category.

The shareholders’ category was subscribed 1.65 times with bids for 12.51 crore shares against 7.57 crore shares reserved for the segment. The existing shareholders of Bajaj Finserv Ltd and Bajaj Finance Ltd are eligible to bid under this category.

Bajaj Housing Finance IPO offer size, price band and minimum investment Bajaj Housing Finance IPO is a book-building issue worth ₹6,560 crore. The mainboard IPO comprises a fresh issue of 50.86 crore shares, aggregating to ₹3,560 crore, and offers-for-sale (OFS) of 42.86 crore shares, amounting to ₹3,000 crore.

The IPO price band has been fixed at ₹66 to ₹70 per share. The minimum lot size for an application is 214 shares, aggregating to an investment of ₹14,980. For small Non-Institutional Investors (sNII), the minimum investment is 14 lots, totalling 2,996 shares, which amounts to ₹2,09,720, and for big Non-Institutional Investors (bNII), the minimum bid size is 67 lots, equating to 14,338 shares worth ₹10,03,660.

Bajaj Housing Finance IPO dates

The Bajaj Housing Finance IPO IPO subscription is open from September 9 to September 11. The IPO allotment status is likely to be finalised on September 12. The credit of shares into the demat accounts of successful bidders will be done on September 13 and refunds for non-allottees will also be done on the same day. Shares of Bajaj Housing Finance Ltd are scheduled to be listed on the NSE and BSE on Monday, September 16.

Bajaj Housing Finance IPO registrar

The registrar of the Bajaj Housing Finance initial public offering is Kfin Technologies Limited, while the book-running lead managers are Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, Goldman Sachs India Securities Limited, SBI Capital Markets Limited, JM Financial Limited and IIFL Securities Ltd.

Bajaj Housing Finance IPO objective

Bajaj Housing Finance Limited intends to use the net proceeds from its fresh issue to strengthen its capital base supporting the company's future business needs for onward lending.

About Bajaj Housing Finance Limited

Founded in 2008, Bajaj Housing Finance Limited is a non-deposit-taking Housing Finance Company registered with the National Housing Bank (NHB) since 2015. Part of the diversified Bajaj Group, the company offers a range of mortgage solutions, including home loans, loans against property, rent concessions, and developer finance.

As of March 31, 2024, Bajaj Housing Finance served 308,693 active customers, with 81.7% holding home loans. The company operates 215 branches across 174 locations in 20 states and three Union Territories supported by six centralised retail loan review centres and seven centralised loan processing centres.