Bajaj Housing Finance IPO: Bajaj Finance to sell share worth ₹3,000 crore via OFS.
Bajaj Finance plans to sell shares worth ₹3,000 crore of its subsidiary, Bajaj Housing Finance, in an IPO.
Bajaj Finance, a non-banking finance company (NBFC), is set to sell shares worth ₹3,000 crore of its housing finance subsidiary, Bajaj Housing Finance, in the upcoming initial public offering (IPO). On June 6, Bajaj Finance announced that the board of Bajaj Housing Finance had approved an IPO with a fresh issue of shares to raise up to ₹4,000 crore.
The plan includes raising ₹4,000 crore through a combination of fresh issue and an offer-for-sale (OFS) component, involving the sale of shares by existing shareholders. Bajaj Housing Finance is a wholly-owned subsidiary of Bajaj Finance.
Bajaj Finserv holds a 51.34% stake in Bajaj Finance.
As of March 31, Bajaj Housing Finance, an upper-layer NBFC as per the Reserve Bank of India's (RBI) scale-based regulation guidelines, manages assets worth ₹91,370 crore.
In September 2022, the banking regulator identified 15 NBFCs in the upper layer with loan books exceeding ₹50,000 crore.
The RBI mandates that the company must list its shares on the exchanges by September 2025.
During Friday's afternoon trading session, shares of Bajaj Finance were up 4.20%, trading at ₹7,217 per share on the NSE.
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