Bajaj Housing Finance Targets $782 Million IPO Amid Impressive Growth Surge

Bajaj Housing Finance aims to achieve a valuation of Rs 58,297 crore (approximately $6.94 billion) through its upcoming initial public offering (IPO) worth $782 million. The company has set a price range of Rs 66-70 per share for the IPO, scheduled from September 9 to September 11. This offering is significant, potentially ranking among the largest Indian IPOs of the year, alongside Ola Electric Mobility and Bharti Hexacom. Bajaj Housing plans to issue new shares worth Rs 3,560 crore to enhance its capital base, while Bajaj Finance will sell additional shares valued up to Rs 3,000 crore. The company reported a year-on-year profit increase of 38%, reaching Rs 1,731 crore for the year ended March 2024.

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Bajaj Housing Finance Aiming for Major IPO Valuation

Bajaj Housing Finance is gearing up for a significant initial public offering (IPO) that aims to reach a valuation of Rs 58,297 crore, which translates to approximately $6.94 billion. The company has set a price band for its shares between Rs 66 and Rs 70, with the IPO scheduled to take place from September 9 to September 11, 2024.

This move comes during a robust period for IPOs in India, where 200 companies have collectively raised over $7.11 billion this year, more than double the amount raised during the same time last year. Bajaj Housing’s offering is anticipated to rank among the largest Indian IPOs of 2024, following those of notable companies like Ola Electric Mobility and Bharti Hexacom.

The company plans to issue new shares worth up to Rs 3,560 crore, targeting enhancements to its capital base. Additionally, Bajaj Finance will sell shares valued at up to Rs 3,000 crore. Following regulatory guidelines set by the Reserve Bank of India, Bajaj Housing must be listed on stock exchanges by September 2025, as it manages over Rs 50,000 crore in assets.

For the financial year ending March 31, 2024, Bajaj Housing Finance reported a profit after tax of Rs 1,731 crore, reflecting a 38% year-on-year increase, while its total revenue from operations surged by 34% to Rs 7,617 crore. The IPO is being managed by prominent investment firms, including Kotak Investment Banking, BoFa Securities India, Goldman Sachs, and Axis Capital.

As this IPO unfolds, it presents an exciting opportunity for investors looking to engage with one of India’s leading housing finance entities.

Tags: Bajaj Housing Finance, IPO 2024, Indian IPO, financial news, stock Market, investment opportunities

What is Bajaj Housing Finance planning to do?
Bajaj Housing Finance is planning to raise about $782 million through an Initial Public Offering (IPO) to reach a valuation of nearly $7 billion.

Why is Bajaj Housing Finance launching an IPO?
They are launching the IPO to raise capital for expanding their business and improving their financial position.

When will the IPO take place?
The exact date for the IPO will be announced soon, but it is expected to happen in the near future.

How can I invest in the Bajaj Housing Finance IPO?
You can invest in the IPO by applying through your bank or a stockbroker when the offering opens to the public.

What should I know before investing in the IPO?
Before investing, you should research the company, understand the risks involved, and consider your financial goals to see if it fits your investment strategy.