The Bajaj Housing Finance IPO is scheduled to launch on September 9, 2024, and will close on September 11, 2024. The IPO is priced between ₹66 and ₹70 per share, with a minimum lot size of 214 shares. The total issue size is ₹7,000 crore, consisting of ₹4,000 crore from fresh equity shares and ₹3,000 crore from the sale of existing shares.
The proceeds from the fresh issue will be used to strengthen the company's capital base to support its future expansion. Leading the book running for this IPO are Kotak Securities, BofA Securities, Axis Capital, SBI Caps, and IIFL Securities.
Company Overview: Bajaj Housing Finance Ltd
Bajaj Housing Finance is the second-largest housing finance company in India by Assets Under Management and is part of the Bajaj Group. The company has demonstrated a robust profitability track record with low non-performing assets: 0.27% gross and 0.10% net. It primarily provides home loans, with an average loan size of ₹4.6 million, and serves predominantly salaried customers (87.5%). Additionally, it offers loans against property, commercial property loans, and loans for developers, and has recently introduced insurance-based products. The company operates through over 215 physical branches and has a strong online presence.
Recent Financial Performance
In FY 24, Bajaj Housing Finance reported a profit after tax of ₹1,713 crore, a 37% increase from FY 23. The company's return on equity (ROE) was 15% for FY 24, compared to 14.6% and 11.1% in the previous two years. The average interest rate charged was 10.4%, with operational cash flow of ₹2,069 crore and an earnings per share (EPS) of ₹2.6.
How to Apply for Bajaj Housing Finance IPO in 5 Minutes Using HDFC Sky
Applying for the Bajaj Housing Finance IPO is quick and easy with HDFC Sky:
Log In: Access your HDFC Sky app or web platform.
Navigate: Go to Profile > Indian Stocks > IPO.
Select IPO: Choose the Bajaj Housing Finance IPO and click "Apply Now".
Customize Bid: Add your bid size and customize as needed.
Complete Payment: Confirm and pay using UPI in just one click.
Conclusion
HDFC Sky offers a seamless way to invest in the Bajaj Housing Finance IPO. You can apply through the HDFC Sky app, available on Google Play Store or the iPhone App Store, or through the HDFC Sky web platform at https://hdfcsky.com/.