look news india
Qualified Institutional Buyers (QIBs) – 1.07 times
Non-Institutional Investors (NII) – 5.59 times
Retail investors – 2.07 times
Employee – 0.52 times
Shareholders – 3.74 times
Total – 2.58 times
(Source: BSE, September 10, 2024|10:15:00 am)
Bajaj Housing Finance IPO Information
Bajaj Finance's ₹6,560.00 crore IPO will be open for subscription till September 11. The price range of its IPO is ₹66-₹70 and one can invest in lots of 214 shares. The allotment of shares under the IPO will be finalized on September 12. Then entries will be made on BSE and NSE on September 16. The registrar of the issue is Caffeinate Tech. New shares worth Rs 3,560.00 crore will be issued under this IPO. Apart from this, 42,85,71,429 shares with a face value of Rs 10 will be sold under the Offer for Sale window. The sale of shares under the Offer for Sale will be done by its parent company Bajaj Finance. The money from the Offer for Sale will go to the shareholders selling the shares. While the money raised from the new shares will be used to increase the capital base of Bajaj Housing Finance.
Information about Bajaj Housing Finance
Bajaj Housing Finance, established in the year 2008, is a deposit-taking housing finance company (HFC). It is registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since FY 2018. RBI has declared it as an upper layer ABFC in India. Bajaj Housing Finance's IPO comes in the wake of RBI's move as according to RBI rules the shares should be listed within three years of becoming an upper layer NBFC and for Bajaj Finance this deadline was going to expire in September 2025.
This Bajaj Group company offers services like home loans, loan against property (LAP-Loan Against Property), rent concession and developer finance. As of March 2024, it had 3,08,693 active customers of which 81.7 percent were home loan holders. It has 215 branches at 174 locations in 20 states and 3 union territories of the country. It has six centralized retail loan review centers and seven central loan processing centers.
As far as the financial health of the company is concerned, it has been continuously strengthening. In FY 2022, it was a net profit of Rs 709.62 crore which increased to Rs 1,257.8 crore in FY 2023 and Rs 1,731.22 crore in FY 2024. During this period, the company's revenue grew at a compound annual growth rate (CAGR) of over 43 percent to Rs 7,617.71 crore. Talking about this financial year 2024-25, in the first quarter April-June 2024, it has achieved a net profit of Rs 482.61 crore and revenue of Rs 2,208.73 crore.
What is the attitude of brokerage?
Swastik Investmart says that its sales and profit growth has been stable and its financial position is very strong. It is also well supported by the strong legacy of the Bajaj Group. The brokerage believes that this IPO has come at a very reasonable valuation, so the brokerage has not only rated it as a listing gain but also called it a long-term investment to subscribe to right now.