![bajaj housing finance ipo bajaj housing finance ipo](https://storage.googleapis.com/5paisa-prod-storage/files/2024-08/bajaj-housing-finance-ipo.jpg)
Bajaj Housing Finance IPO
IPO Details
- Open Date
09 Sep 2024
- Close Date
11 Sep 2024
- IPO Price Range
₹ 66 to ₹ 70
- IPO Size
₹ 6,560.00 Cr
- Listing Exchange
BSE, NSE
- Listing Date
16 Sep 2024
IPO Timeline
Bajaj Housing Finance IPO is set to open on 09 September 2024 and will close 11 on September 2024. The company is a non-deposit-taking Housing Finance Company that has been registered with the National Housing Bank.
The IPO includes a fresh issue of 50.86 crore shares aggregating ₹3,560 Cr and an offer for sale of 42.86 crore shares aggregating ₹3,000 Cr. The price range is set between ₹66 to ₹70 per share and the lot size is 214 shares.
The allotment is scheduled to be finalized on 12 September 2024. It will go public on BSE & NSE, with a tentative listing date of 16 September 2024.
Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, SBI Capital Markets Ltd, JM Financial Ltd and IIFL Securities Ltd are the book-running lead managers, while KFin Technologies Ltd is the registrar.
IPO Size
Types | Size (₹Cr) |
---|---|
Total IPO Size | 6,560.00 |
Offer for Sale | 3,000.00 |
Fresh Issue | 3,560.00 |
1. Augmenting the capital base to meet future business requirements towards onward lending.
2. General corporate purposes.
Bajaj Housing Finance Limited, a non-deposit-taking Housing Finance Company (HFC), has been registered with the National Housing Bank (NHB) since September 24, 2015, and began mortgage lending operations in Fiscal 2018. Since September 30, 2022, the company has been classified as an “Upper Layer” NBFC (NBFC-UL) by the Reserve Bank of India (RBI) under its “Scale Based Regulations (SBR): A Revised Regulatory Framework for NBFCs,” announced on October 22, 2021.
The company offers a wide range of financial solutions tailored for individuals and corporate clients, focusing on the purchase and renovation of residential and commercial properties. Their product suite includes home loans, loans against property (LAP), lease rental discounting, and developer financing. While their primary focus is on individual retail housing loans, they also offer a diverse portfolio of lease rental discounting and developer loans, serving customers from individual homebuyers to large-scale developers.
As of March 31, 2024, Bajaj Housing Finance Limited has become a leading HFC in India across several key parameters. In just seven years of operating in the mortgage sector, it has grown to be the largest non-deposit-taking HFC in India by assets under management (AUM). The company is also ranked as the second largest HFC and the eighth largest NBFC-UL in India by AUM, totaling ₹913,704 million. Additionally, Bajaj Housing Finance is the second most profitable HFC in India, with strong returns on average assets and equity for Fiscal 2024.
The company has been one of the fastest-growing HFCs and NBFCs-UL based on AUM compound annual growth rate (CAGR) from Fiscal 2022 to 2024. It is recognized as the most diversified HFC in India, offering an extensive range of mortgage products. Bajaj Housing Finance holds the highest proportion of salaried customers in its home loan portfolio among large HFCs, focusing on prime housing with higher average ticket sizes. The company also maintains the lowest gross non-performing assets (GNPA) ratio of 0.27% and net non-performing assets (NNPA) ratio of 0.10% among large HFCs in India.
Bajaj Housing Finance’s financial stability is further demonstrated by holding the highest possible credit ratings in India for both long-term and short-term borrowing programs. In Fiscal 2024, the company achieved the second-highest loan disbursement among HFCs in India, amounting to ₹446.6 billion. Additionally, it ranks second in terms of AUM per branch and AUM per employee among large HFCs in the country.
Peer Comparison
● LIC Housing Finance Ltd
● PNB Housing Finance Ltd
● Can Fin Homes Ltd
● Aadhar Housing Finance
● Aavas Financiers
● Aptus Value Housing Finance
● Home First Finance
Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
---|---|---|---|
Revenue | 7,617.31 | 5,665.44 | 3,767.13 |
EBITDA | 6,893.53 | 4,944.78 | 3,140.93 |
PAT | 1,731.22 | 1,257.80 | 709.62 |
Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
---|---|---|---|
Total Assets | 81,827.09 | 64,654.14 | 48,527.08 |
Share Capital | 6,712.16 | 6,712.16 | 4,883.33 |
Total Borrowings | 69,129.32 | 53,745.39 | 41,492.32 |
Particulars (in Rs. Crores) | FY24 | FY23 | FY22 |
---|---|---|---|
Net Cash Generated From / (used in) operating activities | -15,428.11 | -14,331.77 | -12,480.53 |
Net Cash Generated From / (used in) investing activities | 273.31 | -611.44 | 2,197.32 |
Net Cash Generated From / (used in) financing activities | 15,124.78 | 14,630.06 | 10,228.46 |
Net Increase (Decrease) In Cash And Cash Equivalents | -30.02 | -313.15 | -54.75 |
Strengths
1. Bajaj Housing Finance Limited has established itself as one of the top HFCs in India, particularly in terms of AUM growth and profitability.
2. The company offers a comprehensive range of mortgage lending products and this diversification enables them to target different customer segments.
3. Bajaj Housing Finance has shown strong financial metrics, including a high return on assets and equity, alongside the lowest GNPA and NNPA ratios among large HFCs.
4. The company has experienced rapid growth, evidenced by its high compound annual growth rate (CAGR) in AUM.
5. Being part of the Bajaj Group, Bajaj Housing Finance benefits from the brand's strong reputation and trust.
Risks
1. Despite a diversified product portfolio, the company’s focus on prime housing loans and salaried customers could expose it to concentration risks.
2. As a non-deposit-taking HFC classified as an Upper Layer NBFC, the company is subject to strict regulatory requirements.
3. The company’s business is sensitive to macroeconomic conditions, including interest rate changes, inflation, and economic slowdowns.
4. Bajaj Housing Finance faces stiff competition from banks, other HFCs, and NBFCs.
5. While the company maintains low GNPA and NNPA ratios, any deterioration in asset quality due to unforeseen factors could affect its financial health.
in 3
![img-nav](https://storage.googleapis.com/5paisa-prod-storage/pages/currency-trading/line1.png)
![img-nav](https://storage.googleapis.com/5paisa-prod-storage/pages/currency-trading/line2.png)
Using 5paisa App or
Website
to block Payment
Open Free Demat Account
Be a part of 5paisa community - The first listed discount broker of India.
FAQs
Bajaj Housing Finance IPO opens from 9 September to 11 September 2024.
The size of Bajaj Housing Finance IPO is ₹6,560.00 crores.
The price of Bajaj Housing Finance IPO is fixed at ₹66 to ₹70 per share.
To apply for Bajaj Housing Finance IPO, follow the steps given below:
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and the price at which you wish to apply for the Bajaj Housing Finance IPO.
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size of Bajaj Housing Finance IPO is 214 shares and the investment required is ₹14,124.
The share allotment date of Bajaj Housing Finance IPO is 12 September 2024
The Bajaj Housing Finance IPO will be listed on 16 September 2024.
Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Private Ltd, SBI Capital Markets Ltd, JM Financial Ltd and IIFL Securities Ltd are the book-running lead managers for Bajaj Housing Finance IPO.
Bajaj Housing Finance plans to utilize the raised capital from the IPO for:
1. Augmenting the capital base to meet future business requirements towards onward lending.
2. General corporate purposes.
Contact Information
Bajaj Housing Finance
Bajaj Housing Finance Limited
Bajaj Auto Limited Complex,
Mumbai-Pune Road,
Akurdi, Pune - 411035
Phone: +91 20 7187806
Email: bhflinvestor.service@bajajfinserv.in
Website: https://www.bajajhousingfinance.in/
Bajaj Housing Finance IPO Register
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: bhfl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
Bajaj Housing Finance IPO Lead Manager
IIFL Securities Ltd
Bofa Securities India Limited
Axis Capital Limited
Goldman Sachs (India) Securities Private Limited
SBI Capital Markets Limited
Jm Financial Limited
Kotak Mahindra Capital Company Limited