Bajaj Housing Finance board approves IPO
Bajaj Housing Finance board approves IPO…
Bajaj Housing Finance, a subsidiary of Bajaj Finance, is preparing to bring IPO (Intial Public Offering). The board of Bajaj Housing Finance has approved the launch of IPO. The company will raise Rs 4000 crore in the IPO by issuing fresh shares and existing investors in the IPO will also sell their shares under Offer for Sale. However, before launching the IPO, other approvals, regulatory approval will be taken along with looking at the market conditions.
Bajaj Finance has informed in a regulatory filing filed with the exchange on june 6, 2024 that the board of Bajaj Housing Finance has approved the launch of IPO. Now the company will soon file draft papers with the stock market regulator SEBI to get approval for the IPO launch.
In september 2022, the banking sector regulator reserve bank of india released a list of NBFCs with an upper limit whose assets under management are more than Rs 50,000 crore. It is necessary for the companies included in this list to get listed on the stock exchange within three years. Bajaj Housing Finance, which is included in this, will also have to be listed on the stock exchange by september 2025. Apart from Bajaj Housing Finance, Tata Sons, HDB Financial services, Tata capital Financial services and Aditya Birla Finance will also have to be listed on the stock exchange.
For the 9 months ended 31 december 2023, the asset under management of Bajaj Housing Finance stood at Rs 85,929 crore, which is 31 per cent more than the same period of the previous financial year. Disbursement has increased by 31 per cent to Rs 25,308 crore, while the net profit has jumped by 41 per cent to Rs 1350 crore. According to Moneycontrol, the traders are mahindra BANK' target='_blank' title='kotak mahindra-Latest Updates, Photos, Videos are a click away, CLICK NOW">kotak mahindra capital, Axis capital, BofA Securities, JM Financial and sbi capital Advisors.