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  1. Bajaj Housing Finance IPO Day 3 Highlights: Issue subscribed 63.53 times; check financials and other details

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Bajaj Housing Finance IPO Day 3 Highlights: Issue subscribed 63.53 times; check financials and other details

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7 min read | Updated on September 11, 2024, 17:12 IST

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SUMMARY

Bajaj Housing Finance IPO Day 3 LIVE: The initial share sale is a fresh issue of ₹3,560 crore and an offer-for-sale (OFS) of shares to the tune of ₹3,000 crore by the parent firm, Bajaj Finance.

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Bajaj Housing Finance offers financial solutions for buying and renovating residential and commercial properties.

Bajaj Housing Finance IPO Day 3 Live Update at 5:10 pm: Subscription status
CategoryNumber of times subscription
Qualified Institutional Buyers (QIBs)209.36
Non-institutional investors41.42
Retail Individual Investors (RIIs)6.91
Total63.53
Bajaj Housing Finance IPO Day 3 Live Update at 16:58 pm: How will the company use IPO proceeds?

Proceeds from the fresh issue will be used to augment the company's capital base to meet future capital requirements.

Bajaj Housing Finance IPO Day 3 Live Update at 16:03 pm: The issue has been subscribed 62.97 times so far on the final day of subscription. The retail investors portion has been subscribed 6.75 times, while the non-institutional investors (NIIs) quota saw 41.27 times the subscription. The part reserved for qualified institutional investors or QIBs was subscribed 207.59 times.
Bajaj Housing Finance IPO Day 3 Live Update at 2:34 pm: How to apply for the public issue under the shareholders' category?

Anyone who holds even a single share of Bajaj Finance or Bajaj Finserv as of the cut-off date can to apply for Bajaj Housing Finance initial public offering (IPO) under the shareholders' quota.

The cut-off date for Bajaj Housing Finance was August 30, 2024. Read more.
Bajaj Housing Finance IPO Day 3 Live Update at 2:00 pm: Subscription status
Sr noCategoryNo of times subscription
1Qualified Institutional Buyers (QIBs)93.37
1(a)Foreign Institutional Investors (FIIs)-
1(b)Domestic Financial Institutions-
1(c)Mutual funds-
1(d)Others-
2Non Institutional Investors33.37
2.1Non Institutional Investors (Bid amount of more than ₹10 lakh)38.00
2.1(a)Corporates-
2.1(b)Individuals (Other than RIIs)-
2.1(c)Others-
2.2NIIs (Bid amount of more than ₹2 lakh upto ₹10 lakh)24.10
2.2(a)Corporates-
2.2(b)Individuals (Other than RIIs)-
2.2(c)Others-
3Retail Individual Investors (RIIs)6.06
3(a)Cut Off-
3(b)Price bids-
4Employees1.72
4(a)Cut Off-
4(b)Price Bids-
5Shareholders15.33
5(a)Cut Off-
5(b)Price Bids-
-Total33.15
Bajaj Housing Finance IPO Day 3 Live Update at 1:30 pm: Subscription status
CategoryNumber of times subscription
Qualified Institutional Buyers (QIBs)80.40
Non-institutional investors32.38
Retail Individual Investors (RIIs)5.98
Total29.75
Bajaj Housing Finance IPO Day 3 Live Update at 12:08 pm: The IPO has received a robust response from investors with the issued being subscribed 17.31 times so far on the final day of subscription. The retail investors portion has been subscribed 5.47 times, while the non-institutional investors (NIIs) quota saw 26.29 times the subscription. The part reserved for qualified institutional investors or QIBs was subscribed 35.76 times.
Bajaj Housing Finance IPO Day 3 Live Update at 11:22 am: Key dates
  • Subscription period: September 9 to September 11
  • Allotment date: September 12
  • Refund initiation: September 13
  • Demat transfer: September 13
  • Listing date: September 16
Bajaj Housing Finance IPO Day 3 Live Update at 10:49 am: The issue has been subscribed 9.94 times so far. The retail investors quota has been subscribed 5.03 times, while the non-institutional investors (NIIs) category saw 22.63 times the subscription. The portion reserved for qualified institutional investors (QIBs) was subscribed 9.64 times.
Bajaj Housing Finance IPO Day 3 Live Update at 10:12 am: Subscription status
CategoryNumber of times subscription
Qualified Institutional Buyers (QIBs)7.46
Non-institutional investors16.93
Retail Individual Investors (RIIs)4.56
Total8
Bajaj Housing Finance IPO Day 3 Live Update at 9:30 am: The subscription status for the final day of bidding will start updating on the National Stock Exchange (NSE) and the BSE at 10 am.

The ₹6,560 crore initial public offer of Bajaj Housing Finance will conclude on Wednesday, September 11 at 5 pm. The IPO opened on Monday, September 9.

So far, till day 2, the IPO has received bids for 5,45,85,77,822 equity shares against 72,75,75,756 shares on offer.

The non-institutional investors (NIIs) portion was subscribed 16.45 times, while the retail investors quota garnered 3.83 times the subscription. The part set aside for qualified Institutional Buyers (QIBs) received 7.46 times the subscription.

The company had also raised ₹1,758 crore from anchor investors prior to the IPO.

The price range for the offer is fixed at ₹66 to ₹70 per share.

The initial share sale is a fresh issue of ₹3,560 crore and an offer-for-sale (OFS) of shares to the tune of ₹3,000 crore by the parent firm, Bajaj Finance.

The proceeds from the fresh issue will be utilised to augment the company's capital base and meet future capital requirements.

Bajaj Housing Finance, a non-deposit-taking housing finance company, offers financial solutions for buying and renovating residential and commercial properties.

Bajaj Housing Finance IPO: Strengths

  • The company is considered a reliable retail brand as it is a wholly owned subsidiary of Bajaj Finance.
  • Second largest housing finance company (HFC) in India in terms of assets under management (AUM) as of March 31, 2024.
  • Strategic presence with omnichannel sourcing strategy, seven centralised hubs for loan processing and 1,780 active channel partners as of the July quarter of FY25.
  • Lowest net non-performing assets (NNPA) and gross non-performing assets (GNPA) compared to peers in the financial year 2023-24 due to clear-cut credit evaluation and risk management practices.
  • Access to diversified and cost-effective borrowing sources.

Bajaj Housing Finance IPO: Risks

  • The volatility in interest rates may affect the company's net interest margin, net interest income, and its fixed-income portfolio's value.
  • Bajaj Housing Finance may face mismatches in the maturity of its assets and liabilities, which could lead to liquidity concerns.
  • National Housing Bank periodically inspects the company, and non-compliance could adversely affect its business and finances.
  • The business is dependent on the real estate sector.
  • As of June 30, 2024, 88% of the company's total disbursements are concentrated in one union territory and four states.
  • The company depends on an external distribution network that does not work exclusively for it, accounting for 43% of its home loans AUM as of Q1 FY25.

Bajaj Housing Finance IPO: Financials

ParticularsFY22FY23FY24Q1 FY25
Revenue₹3,766 crore₹5,664 crore₹7,617 crore₹2,208 crore
Net Profit₹709 crore₹1,257 crore₹1,731 crore₹482 crore
To learn more about IPO listings, schedules, and upcoming IPOs, click here.
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About The Author

WhatsApp Image 2024-06-20 at 9.58.49 AM.jpeg
Kamal Joshi is a business journalist who covers industries, markets and IPOs. He is passionate about breaking news and enjoys covering tennis, where he loves flexing his backhand.

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