New Delhi, Bajaj Housing Finance has filed preliminary papers with capital markets regulator SEBI to raise Rs 7,000 crore through an initial public offering (IPO).
According to the draft red herring prospectus (DRHP), the proposed IPO comprises a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale (OFS) of equity shares worth Rs 3,000 crore by parent company Bajaj Finance.
The share sale is being conducted to comply with Reserve Bank of India (RBI) regulations, which require upper tier non-banking finance companies to be listed on stock exchanges by September 2025.
The proceeds from the fresh issue will be used to enhance the capital base of the company to meet future capital requirements.
Bajaj Housing Finance is a non-deposit taking housing finance company registered with the National Housing Bank since September 2015.It provides financial solutions for purchase and renovation of residential and commercial properties.
It is recognized and classified as an "upper tier" NBFC by the RBI in India, and its wide mortgage products include home loans, loans against property, lease rental discounting and developer financing.
For the full financial year 2023-24, the housing lender posted a net profit of Rs 1,731 crore, showing a growth of 38 per cent from Rs 1,258 crore in FY23.
Housing finance companies Aadhaar Housing Finance and India Shelter Finance have recently been listed on the stock exchanges.
On June 6, the board of Bajaj Finance approved the sale of shares worth Rs 3,000 crore in the initial public offering of Bajaj Housing Finance.Kotak Mahindra Capital Company Limited, BofA Securities India Limited, SBI Capital Markets Limited, Goldman Sachs (India) Securities Private Limited and JM Financial Limited are the book-running lead managers that will manage the public issue of the company.
According to the draft red herring prospectus (DRHP), the proposed IPO comprises a fresh issue of equity shares worth up to Rs 4,000 crore and an offer for sale (OFS) of equity shares worth Rs 3,000 crore by parent company Bajaj Finance.
The share sale is being conducted to comply with Reserve Bank of India (RBI) regulations, which require upper tier non-banking finance companies to be listed on stock exchanges by September 2025.
The proceeds from the fresh issue will be used to enhance the capital base of the company to meet future capital requirements.
Bajaj Housing Finance is a non-deposit taking housing finance company registered with the National Housing Bank since September 2015.It provides financial solutions for purchase and renovation of residential and commercial properties.
It is recognized and classified as an "upper tier" NBFC by the RBI in India, and its wide mortgage products include home loans, loans against property, lease rental discounting and developer financing.
For the full financial year 2023-24, the housing lender posted a net profit of Rs 1,731 crore, showing a growth of 38 per cent from Rs 1,258 crore in FY23.
Housing finance companies Aadhaar Housing Finance and India Shelter Finance have recently been listed on the stock exchanges.
On June 6, the board of Bajaj Finance approved the sale of shares worth Rs 3,000 crore in the initial public offering of Bajaj Housing Finance.Kotak Mahindra Capital Company Limited, BofA Securities India Limited, SBI Capital Markets Limited, Goldman Sachs (India) Securities Private Limited and JM Financial Limited are the book-running lead managers that will manage the public issue of the company.
