Bajaj Housing Finance Files for Rs 7,000 Crore IPO to Meet RBI Regulations

Bajaj Housing Finance has submitted documents to Sebi for a Rs 7,000 crore IPO. This includes a Rs 4,000 crore fresh issue and a Rs 3,000 crore offer for sale by Bajaj Finance. The IPO aims to meet RBI regulations and strengthen the company's capital base for future needs.


PTI | New Delhi | Updated: 08-06-2024 13:59 IST | Created: 08-06-2024 13:59 IST
Bajaj Housing Finance Files for Rs 7,000 Crore IPO to Meet RBI Regulations
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Bajaj Housing Finance has initiated steps to raise Rs 7,000 crore through an initial public offering (IPO) by filing preliminary papers with the capital markets regulator, Sebi.

The IPO will consist of a fresh equity issue worth Rs 4,000 crore and a Rs 3,000 crore offer for sale by parent company Bajaj Finance, as specified in the draft red herring prospectus (DRHP). The move is in compliance with the Reserve Bank of India's regulations requiring upper-layer non-banking finance companies to list on the stock exchanges by September 2025.

Funds from the fresh issue will bolster the company's capital base to fulfill future capital requirements. Bajaj Housing Finance, a non-deposit-taking housing finance company registered with the National Housing Bank, reported a net profit of Rs 1,731 crore for FY24, up 38% from the previous year. Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd will lead the public issue management.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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