Bajaj Housing's ₹7,000 Crore IPO Fuels 3% Surge in Bajaj Finance and Finserv SharesBajaj Housing's ₹7,000 Crore IPO Fuels 3% Surge in Bajaj Finance and Finserv Shares

Bajaj Housing Finance is set to raise Rs 7,000 crore through an IPO slated for early September 2024, boosting shares of Bajaj Finance and Bajaj Finserv by up to 3%. The IPO includes Rs 4,000 crore in fresh issues and Rs 3,000 crore in an offer-for-sale.

Special quotas are available for Bajaj Finserv and Bajaj Finance shareholders in the upcoming Bajaj Housing IPO, reflecting their promoter status. Bajaj Finance holds a 100% stake in Bajaj Housing, while Bajaj Finserv owns 51.34% of Bajaj Finance.

Despite no announced price band, Bajaj Housing Finance’s IPO is attracting a grey market premium of Rs 41. The IPO’s allure in unlisted markets highlights investor anticipation and confidence in its success.

Leading financial institutions such as Kotak Mahindra Capital, Goldman Sachs, and others are managing the IPO, with KFin Technologies handling registrations. The proceeds will enhance Bajaj Housing’s capital base to support future expansions.

Bajaj Housing Finance, a diverse NBFC based in Pune, serves over 76.5 million customers nationwide. As of March 2024, it boasts an AUM of Rs 9.14 lakh crore and has seen significant growth in its lending operations.