look news india
Bajaj Finance subsidiary Bazaar Housing Finance has filed draft papers with market regulator SEBI for IPO. The company has to raise up to Rs 7000 crore through a public issue. People close to the matter told Moneycontrol that SEBI has e-filed the draft red herring prospectus. On June 6, the Bajaj Housing Finance board approved the firm's listing plans.
This includes the issuance of fresh equity shares worth up to Rs 4,000 crore under an IPO and an offer for sale of equity shares subject to market conditions. On June 7, Bajaj Finance revealed that the OFS would be worth Rs 3,000 crore.
One reason behind Bajaj Housing's IPO could also be a rule of the Reserve Bank of India. RBI has placed Bajaj Housing Finance in the list of upper level NBFCs. NBFCs included in the upper level category have to list themselves in the stock market within 3 years of getting this status.
When is Bajaj Housing Finance going to be listed?
Bajaj Housing Finance has time till September 2025 to get listed. Apart from Bajaj Housing Finance, other NBFCs that have been placed in the upper layer list by the RBI include Tata Sons, HDB Financial Services, Aditya Birla Finance and Sanghvi Finance.
Which bank is the advisor for the IPO?
Bajaj Housing Finance has appointed Kotak Mahindra Capital, Axis Capital, BofA Securities, JM Financial and SBI Capital to its advisory board for its IPO. Currently, 2 companies of the housing finance sector are listed in the stock market. These include Blackstone-backed Aadhar Housing Finance and Westbridge-backed India Shelter Finance.
