look news india
New Delhi, September 02 (HS). The public issue of non-banking finance company Bajaj Housing Finance is going to open for subscription on September 09 next week. Applications can be made for Bajaj Housing's IPO till September 11. Anchor investors will be able to bid on September 06. An IPO is being launched by any company of Bajaj Group after many years. For this reason, this IPO is expected to get a strong response from investors. Bajaj Housing Finance is a wholly owned company of Bajaj Finance, already listed in the stock market.
According to the information provided in this regard, after the subscription closes on September 11, the shares will be allotted on September 12 itself. The company's shares will be listed on the mainboard. This means that the shares of Housing Finance will be listed on both the Bombay Stock Exchange and the National Stock Exchange. The listing of shares may take place on September 16.
BofA Securities Limited, Kotak Mahindra Capital Company, JM Financial, Access Capital, Goldman Sachs India Securities, IIFL Securities and SBI Capital Markets are the book-running lead managers to the Bajaj Housing Finance IPO.
According to the company's Red Herring Prospectus (RHP), the size of this IPO will be Rs 6,560 crore. In this, new shares worth Rs 3,560 crore will be issued. Along with this, there will also be an Offer for Sale (OFS) of Rs 3,000 crore. Under this IPO, 50 percent of the shares will be reserved for qualified institutional buyers. Apart from this, 35 percent of the shares will be reserved for retail investors and 15 percent of the shares will be reserved for non-institutional investors. However, the details of the price band of the shares to be issued under this IPO will be released on Tuesday i.e. tomorrow.
