Bajaj Housing Finance Preps for Major IPO in September 2024
Bajaj Housing Finance is set to launch an IPO from September 9-11, 2024, aiming to raise Rs 7,000 crore with shares priced between Rs 66 and Rs 70. The funds will bolster its capital base and support growth. With a proven track record, the company offers lucrative investment opportunities.
- Country:
- United States
Bajaj Housing Finance is gearing up for a pivotal Initial Public Offering (IPO) starting September 9, 2024, and closing on September 11, 2024. With shares priced between Rs 66 and Rs 70, this IPO presents an attractive opportunity for investors. The issue includes a minimum bid lot size of 214 shares, aiming to raise Rs 7,000 crore, with Rs 4,000 crore from fresh equity and Rs 3,000 crore from existing shareholders' sales.
The capital raised through this IPO will be utilized to strengthen Bajaj Housing Finance's capital base, facilitating its expansion and enhancing its competitive position in the stock market. This infusion of capital will support the company's growth strategy and drive its future developments.
Operating as a non-deposit taking Non-Banking Financial Company (NBFC), Bajaj Housing Finance focuses on home loans with an average size of Rs 4.6 million (Rs 46 lakhs). Its primary clientele includes salaried individuals, who make up 87.5% of its customers. Additionally, the company offers loans against property, commercial property loans, and has recently introduced insurance-based products. With more than 215 branches and a robust online presence, Bajaj Housing Finance is well-integrated into the financial services market.
(With inputs from agencies.)
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