IPO

Bajaj Housing Finance Limited IPO

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Housing Finance Company

Listed On: Sep 16, 2024 at ₹ 150.0(NSE)

₹ 14980 /214 Shares

Check Allotment

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date
Price Summary

Last Closing

110.15 (57.36%)

52 Week High

147.70

52 Week Low

103.10

Last Update

23-Oct-2025 3:30 PM
Bajaj Housing Finance IPO Issue Details
  • Issue Price ₹66-70 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 93,71,42,858 shares(aggregating up to ₹6560 crore)
  • Fresh Share 50,85,71,429 shares(aggregating up to ₹3560 crore)
  • Offer For Sale 42,85,71,429 shares(aggregating up to ₹3000 crore)
  • Listing at BSE, NSE
  • List Price 150.0(NSE)
  • Listing Date 2024-09-16
  • Lead Manager Kotak Mahindra Capital Company Limited
    Bofa Securities India Limited
    Axis Capital Limited
    Goldman Sachs (India) Securities Private Limited
    SBI Capital Markets Limited
    Jm Financial Limited
    Iifl Securities Ltd
  • Registrar Kfin Technologies Limited
Market Lot Size

Investors can bid for a minimum of 214 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

ApplicationLotsSharesAmount
Retail (min)1214₹14,980
Retail(max)132782₹1,94,740
Bajaj Housing Finance IPO Reservation

Bajaj Housing Finance IPO offers total 93,71,42,865 shares. Out of which 16,74,28,580 (17.87%) allocated to QIB, 12,55,71,430 (13.4%) allocated to NII,29,30,00,000 (31.27%) allocated to RII, 2,85,71,428 (3.05%) allocated to employees and 25,11,42,856 (26.8%) allocated to Anchor investors.

Investor CategoryShares OfferedMaximum Allottees
Anchor Investor Shares Offered25,11,42,856 (26.8%)
QIB Shares Offered16,74,28,580 (17.87%)
NII (HNI) Shares Offered12,55,71,430 (13.4%)
bNII < ₹10L8,37,14,286 (8.93%)
sNII < ₹10L4,18,57,143 (4.47%)
Retail Shares Offered29,30,00,000 (31.27%)
Employee Shares Offered2,85,71,428 (3.05%)
Total Shares Offered93,71,42,865 (100%)
Bajaj Housing Finance IPO Documents
DRHP
RHP
ANCHOR
Bajaj Housing Finance IPO Details


Bajaj Housing Finance IPO is a book-built issue of ₹6560 crores, The total issue size is ₹6560 crores. The IPO of Bajaj Housing Finance is priced at ₹66-70 per equity share, which has a face value of ₹10 Per Equity Share each, IPO bidding starts from Sep 9, 2024 and ends on Sep 11, 2024. The allotment for Bajaj Housing Finance IPO will be finalized on Sep 12, 2024. Bajaj Housing Finance IPO will be listed on BSE, NSE, with a tentative listing date fixed as Sep 16, 2024. The company shall list its equity shares on the BSE, NSE. Kfin Technologies Limited is the registrar of the issue.

Retail investors can bid for a minimum of 214 shares, extendable to 14,980. The book-running lead manager for the IPO is/are Kotak Mahindra Capital Company Limited, Bofa Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, Jm Financial Limited, Iifl Securities Ltd.

The total issue ₹6560 crore, comprising a fresh issue of 50,85,71,429 shares ₹3560 crore and having Offer for Sale (OFS) of 42,85,71,429 shares to mop up ₹3000 crore.

The Bajaj Housing Finance IPO sets its price band at 66-70 for each share. A single application for Bajaj Housing Finance Limited IPO must contain at least 214 shares. Sentiment investors need to invest a minimum of 214 through their retail account. For investors to prevent oversubscription issues, they should submit bids at the cutoff price, which estimates about ₹14,980

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Bajaj Housing Finance IPO Subscription Analysis And Details
Retail
6.93x
QIB
209.36x
NII
41.42x
bNII
47.64x
sNII
28.98x
Total
63.52x
As onQIBNII
bNII   sNII		RetailTotal
Shares Offered / Reserved167,428,580125,571,430
83,714,286    41,857,143		293,000,000686,000,009
Day 1 09-09-24 05:00 PM
1.07 x4.34
4.49 x   4.03 x		1.50 x2.01 x
Day 2 10-09-24 05:00 PM
7.46 x16.46
17.98 x   13.41 x		3.84 x7.51 x
Day 3 11-09-24 05:00 PM
209.36 x41.42
47.64 x   28.98 x		6.93x/SH:18.54 x63.52 x
Total No of Applications
88,53,409
Subscription on the basis of Applications
Retail:5.36x BHNI:8.79x SHNI:27.71x
Bajaj Housing Finance Valuations
EPS Pre IPO ₹2.21/-
EPS Post IPO ₹2.32/-
P/E Pre IPO 31.62
P/E Post IPO 30.2
Debt/Equity 5.70
RoNW 3.6%
Price to Book Value 3.72
Bajaj Housing Finance Company Financials
In Crs.
In Cr.
31-Mar-2431-Mar-2331-Mar-22
Assets81,827.0964,654.1448,527.08
Revenue7,617.715,665.443,767.13
Profit After Tax1,731.221,257.8709.62
Net Worth12,233.510,503.196,741.36
Reserves & Surplus5,520.813,791.031,858.03
Total Borrowing69,129.3253,745.3941,492.32
About Bajaj Housing Finance Company

Bajaj Housing Finance Limited, registered with the National Housing Bank on September 24, 2015, began mortgage lending in Fiscal 2018. Within seven years, it became the largest non-deposit-taking HFC in India by AUM and the second-largest HFC overall. It's also the eighth-largest NBFC-UL in India, notable for its profitability with strong returns on average assets and equity in Fiscal 2024. The company leads its peers with the fastest AUM CAGR growth rate from Fiscal 2022 to 2024.

Bajaj Housing Finance offers a diverse range of financial solutions for both individuals and corporate entities. These solutions include home loans, loans against property (LAP), lease rental discounting, and developer financing. The company primarily focuses on individual retail housing loans, supplemented by various lease rental discounting and developer loans.

As of March 31,2024, Bajaj Housing Finance's assets under management (AUM) stood at ₹913,704.0 million, showcasing a compound annual growth rate (CAGR) of 30.9% from Fiscal 2022 to 2024. The average ticket size for its home loans was ₹4.6 million, with an average loan-to-value ratio of 70.5%. Additionally,75.8% of the company's home loan AUM came from customers with a CIBIL score above 750.

The company offers the most diversified suite of mortgage lending products in India and has the highest proportion of salaried customers in its home loan portfolio among large HFCs. It is known for focusing on prime housing and has one of the highest average ticket sizes.

Bajaj Housing Finance operates through a network of 215 branches across 174 locations in 20 states and three union territories. This network is supported by six centralised hubs for retail underwriting and seven processing hubs, ensuring efficient service delivery to meet the diverse needs of its customers across urban and upcountry locations.

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Bajaj Housing Finance - Promoter(s)

Bajaj Finance Limited and Bajaj Finserv Limited

Pre Issue Share Holding : 100%

Post Issue Share Holding : 87.80%

Bajaj Housing Finance IPO - Issue Objectives
1

Augmenting the company’s capital base to meet future business requirements of the company towards onward lending

2

General corporate purposes.

Bajaj Housing Finance IPO - Anchor Investors

Bajaj Housing Finance raises Rs 1,758 crore via anchor book.

Major anchor investors included Govt of Singapore, which contributed to 3.57 % of the anchor issue, at Rs 62.73 crore, ICICI Prudential Banking and Financial Services Fund that contributed to 4.55 % of the anchor issue at Rs 79.99 crore, and New World Fund Inc contributed 4.27 % of the anchor portion with Rs 74.99 crore.

The anchor issue also saw 21 mutual funds applying through a total of 43 schemes, investing around Rs 627.99 crore.

Bajaj Housing Finance IPO - Peers Comparison
Company NameEPS (Basic)EPS (Diluted)NAV (per share) (Rs)P/E (x)RoNW (%)P/BV RatioFinancial statements
Bajaj Housing Finance Limited2.62.618.2N/A15.2N/AStandalone
LIC Housing Finance Ltd.86.586.5572.37.316.2N/AConsolidated
PNB Housing Finance Ltd.58.458.4576.612.411.6N/AConsolidated
Can Fin Homes Ltd.56.456.4326.212.918.8N/AConsolidated
Aadhar Housing Finance Limited1918.4104.318.718.4N/AConsolidated
Aavas Financiers Ltd.6261.9476.825.813.9N/AConsolidated
Aptus Value Housing Finance India Limited12.312.275.524.617.2N/AConsolidated
Home First Finance Company India Ltd.34.733.7239.724.315.5N/AConsolidated

Notes:

  1. The P/E Ratio has been computed based on the closing market price of equity shares on NSE as of May 31, 2024, divided by the diluted earnings per share for the year ended March 31, 2024.
  2. Return on Net Worth (%) is calculated as the profit after tax for the relevant fiscal year as a percentage of average net worth in such year.
  3. Net asset value per equity share (book value per equity share) is computed as net worth as of the last day of the relevant year divided by the outstanding number of issued and subscribed equity shares as of the last day of such year. Net worth is calculated as a sum of equity share capital and other equity.
Strength
Bajaj Housing Finance holds AUM of ₹913,704.0 million as of 2024.
Experienced management team with over 21 years of association with the Bajaj group.
Operates 215 branches across 174 locations in 20 states.
Weakness
Inability to recover full collateral value could adversely affect financial stability.
Regulatory changes could increase provisioning needs, affecting financial health.
Interest rate volatility could erode Net Interest Margins, currently at 4.1%.
Contact Details

Bajaj Housing Finance

Bajaj Auto Limited Complex, Mumbai-Pune Road, Akurdi, Pune - 411035

+91 20 7187806

bhflinvestor.service@bajajfinserv.in

https://www.bajajhousingfinance.in/

Registrar Contact Details

Kfin Technologies Limited

04067162222, 04079611000

bhfl.ipo@kfintech.com

https://kosmic.kfintech.com/ipostatus/