Bajaj Housing Finance Puny (BHFL) has filed Draft Red Herring Prospectus (DRHP) with the Indian market regulator to commence a Rs 7,000 crore preliminary public offering (IPO). The public whisper will comprise a novel whisper of equity shares of as a lot as Rs 4,000 crore and an offer on the market (OFS) of as a lot as Rs 3,000 crore, the DRHP talked about.
BHFL is allotment of the Bajaj Neighborhood with Bajaj Finance Puny and Bajaj Finserv Puny as its promoters. The company is a non-deposit taking housing finance company (HFC) and has been registered with the National Housing Financial institution (NHB) since September 24, 2015. It's engaged in mortgage lending since the financial one year 2017-18.
In the OFS, Bajaj Finance will off-load its shares. The public offer involves a reservation of equity shares for subscription by eligible staff and a reservation for subscription by eligible shareholders of promoters alongside with folk and HUFs who are public equity shareholders of the promoters, the DRHP filed with the Securities and Trade Board of India (Sebi) talked about.
BHFL proposes to utilize the gain proceeds for augmenting the corporate’s capital tainted to meet future industry requirements of the corporate in the direction of onward lending.
On this whisper, as a lot as 50% of the gain offer on a proportionate basis will likely be reserved for qualified institutional merchants (QIBs) provided that the corporate in consultation with the book running lead managers (BRLMs), would perhaps just allocate as a lot as 60% of the QIB Share to the anchor Investors. Meanwhile the non-institutional investors' (NIIs) quota will likely be reserved as a lot as 15% of the gain offer. As for the retail investors, as a lot as 35% quota will likely be allocated.
The inventory will likely be listed on both BSE and NSE.
Kotak Mahindra Capital Firm Puny, BofA Securities India Puny, Axis Capital Puny, Goldman Sachs (India) Securities Non-public Puny, SBI Capital Markets Puny, JM Financial Puny, and IIFL Securities Puny are the Book Running Lead Managers to the whisper.
It has been identified and labeled as an "larger layer" NBFC by the RBI in India, and its comprehensive mortgage products encompass dwelling loans, loans against property, lease rental discounting and developer financing.
For the financial one year 2023-24, the housing lender posted a gain earnings of Rs 1,731 crore, marking a boost of 38 per cent from Rs 1,258 crore in FY23.
Housing finance corporations Aadhar Housing Finance and India Refuge Finance had been no longer too long previously listed on the inventory exchanges.
On June 6, the board of Bajaj Finance licensed the sale of shares charge Rs 3,000 crore in the preliminary public offering of Bajaj Housing Finance.
