Bajaj Housing Finance Ltd IPO Timeline

Bajaj Housing Finance Ltd IPO opens on 09-Sep-2024, and closes on 11-Sep-2024. The Bajaj Housing Finance Ltd IPO bid date is from 09-Sep-2024 to 11-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Bajaj Housing Finance Ltd IPO Opening Date 09-Sep-2024
Bajaj Housing Finance Ltd IPO Closing Date 11-Sep-2024
Basis of Allotment 12-Sep-2024
Initiation of Refunds 13-Sep-2024
Credit of Shares to Demat 13-Sep-2024
Bajaj Housing Finance Ltd IPO Listing Date 16-Sep-2024

Bajaj Housing Finance Ltd IPO Lot Size

Bajaj Housing Finance Ltd IPO lot size is 214 shares. A retail-individual investor can apply for up to 13 lots (2782 shares or 194740).

Application Lots Shares Amount
Minimum 1 214 ₹14980
Maximum 13 2782 ₹194740

Bajaj Housing Finance Ltd IPO Details

Bajaj Housing Finance Ltd IPO Date 09-Sep-2024 to 11-Sep-2024
Bajaj Housing Finance Ltd IPO Face Value Shares of ₹10 per share
Bajaj Housing Finance Ltd IPO Price ₹66 to ₹70 per share
Bajaj Housing Finance Ltd IPO Lot Size 214
Issue Size Shares of ₹10 (aggregating up to ₹6560 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹3560 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹3000 Cr)
Issue Type Book Built Portion
Listing At BSE, NSE
QIB Shares Offered Not more than 177575756
Retail Shares Offered Not less than 310757576
NII (HNI) Shares Offered Not less than 133181819
Company Promoters Bajaj Finance Ltd, Bajaj Finserv Ltd.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Listing of the Equity Shares on the Stock Exchanges

Company Financials

Bajaj Housing Finance Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 81827.09 7617.71 1731.22
03-2023 64654.14 5665.44 1257.8
03-2022 48527.08 3767.13 709.62
Amount in ₹ Crore
  • The Company has a distinguished heritage of the "Bajaj" brand, which enjoys widespread recognition as a reliable retail brand with strong brand equity.
  • The Company is the second largest HFC in India (in terms of AUM) with a track record of strong growth driven by a diversified portfolio.
  • The Company has a strategic presence with omni-channel sourcing strategy, driven by customer-focused digitization initiatives and technology.
  • The COmpany has well defined credit evaluation and risk management practices resulting in lowest GNPA and NNPA among its Peers in Fiscal 2024.
  • The Company has access to diversified and cost-effective borrowing sources facilitated by the highest possible credit ratings from rating agencies.
  • The Company has an experienced management team supported by a team of dedicated professionals and ability to attract and retain talented employees.
  • Its inability to fully recover the collateral value or the sums due from defaulted loans promptly or entirely, could adversely affect its business, results of operations, cash flows and financial condition.
  • If the company is unable to control the level of Gross Non-Performing Assets/Stage 3 Assets in its portfolio effectively or if the company is unable to maintain adequate provisioning coverage or if there is any change in regulatorily-mandated provisioning requirements, its financial condition and results of operations could be adversely affected.
  • If the company is unable to comply with the requirements stipulated by Reserve Bank of India, it could have a material adverse effect on its business, results of operations, cash flows and financial condition.
  • Its assets under management are concentrated in four states and the union territory of New Delhi and any adverse developments in these regions could have an adverse effect on its business, results of operations, cash flows and financial condition.
  • The company has allotted Equity Shares to Bajaj Finance Limited, one of its Promoters, in Fiscal 2023 at a price that will be lower than the Offer Price.
  • Its inability to comply with the financial and other covenants under its debt financing arrangements could adversely affect the company's business, results of operations and financial condition.
  • Its portfolio is significantly exposed to real estate and any significant downturn or any adverse developments in the real estate sector may lead to an increase in impairment losses and adversely affect its business, results of operations, cash flows and financial condition. Further, its may not be able to identify or correct defects or irregularities in title to the properties which are made collateral to the loans offered by it to its customers or realize the loan amount from such properties which may adversely affect its business.
  • Its may be impacted by macroeconomic factors, including volatility in interest rates, which could cause its Net Interest Income, Net Interest Margins and the value of its fixed income portfolio to decline and adversely affect its profitability, business, results of operations, cash flows and financial condition, including in the near-term.
  • The Company has availed borrowings from a number of related parties and there can be no assurance that its could not have achieved more favourable terms if such transactions had not been entered into with such related parties.
  • The company is party to certain legal proceedings and any adverse outcome in these or other proceedings may adversely affect its business.
  • Certain of its Promoter Group entities, Group Companies and Directors are engaged in businesses similar to its and this may result in conflict of interest with the company.
  • Its may faces interest rate and maturity mismatches between its assets and liabilities in the future, including in the near term, which may cause liquidity concerns. Further, if the company is unable to secure funding on acceptable terms and at competitive rates when needed, it could have a material adverse effect on its business, results of operations, cash flows and financial condition.
  • The company depends on an external distribution network for referrals of a certain portion of its customers and this external distribution network does not work exclusively for it.
  • The company relies on the accuracy and completeness of information about customers and counterparties. Any misrepresentation, errors or incompleteness of such information could adversely affect its business, results of operations, cash flows and financial condition.
  • Its debt securities are listed on Bombay Stock Exchange, and the company is subject to strict regulatory requirements with respect to such listed debt securities. Its inability to comply with or any delay in compliance with such laws and regulations may have an adverse effect on its business, results of operations, cash flows and financial condition.
  • A majority of its retail home loan portfolio may be adversely affected by various factors such as business failure, insolvency, lack of liquidity, loss of employment or personal emergencies of its customers. These factors could lead to increased customer defaults, leading to an increase in the levels of its non-performing assets and possible fall in the rate of loan portfolio expansion.
  • The company is subject to periodic inspections by the National Housing Bank. Non-compliance with observations made during any such inspections could result in penalties and fines, and could adversely affect its reputation, business, financial condition, results of operations and cash flows.
  • Its funding requirements and deployment of the Net Proceeds of the Offer are based on management estimates and have not been independently appraised. Any variation in the utilisation of the Net Proceeds would be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company is exposed to risks related to concentration of loans to certain customers. As at June 30, 2024, loans to its top 10 and 20 largest customers amounted to 6.2% and 8.8% of its total outstanding loans.
  • Its insurance coverage may not be sufficient or may not adequately protect it against losses, and successful claims that exceed its insurance coverage could harm the company's business, results of operations, cash flows and financial condition.
  • The company conduct its operations under the "Bajaj Finserv" brand and have a license to use that brand name and certain other trademarks. If the company fails to successfully enforce its intellectual property rights or are unable to renew its intellectual property licence agreements, the companay's business, results of operations, cash flows and financial condition could be adversely affected.
  • The company outsource certain operational activities to third-party service providers. Any lapse by such third party service providers may have adverse consequences on its business and reputation.
  • The company, its Promoter, Group Companies and certain members of its Promoter Group may have to comply with stricter regulations and guidelines issued by regulatory authorities in India, including the Reserve Bank of India, National Housing Bank, Securities and Exchange Board of India and Insurance Regulatory and Development Authority of India, which may increase its compliance costs, and subject us to penalties or business restrictions.
  • The company is exposed to risks of increased commercial real estate vacancies in its lease rental discounting portfolio and regulatory and other challenges faced by developers in relation to its developer financing portfolio.
  • The company is exposed to risks that may arise if its customers opt for balance transfers to other banks or financial institutions, or if customers face increased difficulties in refinancing their existing home loans from other banks and financial institutions to the Company.
  • Its business is subject to various operational risks associated with the financial industry, including fraud.
  • The company is subject to the risk of failures of, or a material weakness in, its internal control systems, which could have a material adverse effect on its reputation, business, results of operations, cash flows and financial condition.
  • Any downgrade in its credit ratings or significant increase in gross non-performing assets may lead to an increase in its cost of funds for existing and future borrowings.
  • Its Statutory Auditors have included a matter of emphasis in their audit report on financial statements as at and for the fiscal year ended March 31, 2022.
  • Its regulatory mandated ratios may differ from the company peers and if the company fails to comply with the regulatory requirements, it could severely impact its business, results of operations, cash flows and financial condition.
  • The company is dependent on its Key Managerial Personnel and Senior Management Personnel, and the loss of, or its inability to attract or retain such persons could adversely affect its business, results of operations, cash flows and financial condition.
  • Negative publicity could damage its reputation and adversely impact the company's business and financial results.
  • Any non-compliance with mandatory anti-money laundering, combating-terrorism financing and know your customer laws could expose it to liability and harm its reputation.
  • There can be no assurance that its growth and financial performance will continue or will sustain at a similar rate or that the company will be able to manage its rapid growth and maintain operational efficiencies.
  • Its investments are subject to market and credit risk. Any decline in value of these investments may have an adverse effect on its business, results of operations, cash flows and financial condition.
  • Weaknesses, disruptions, failures or infiltrations of its information technology systems could adversely impact the company's business and results of operations.
  • Increasing regulatory focus on personal information protection could adversely affect its business and expose it to increased liability.
  • If the company fails to identify, monitor and manage risks and effectively implement its risk management policies, it could have a material adverse effect on its business, financial condition, results of operations and cash flows.
  • Its may experience difficulties in expanding the company's business or pursuing business opportunities in new regions and markets.
  • The company may not be able to obtain, renew or maintain statutory and regulatory permits and approvals required to operate its business, which may materially and adversely affect the company's business, results of operations, cash flows and financial condition.
  • The company has entered into a number of related party transactions and there can be no assurance that its could not have achieved more favourable terms if such transactions had not been entered into with related parties.
  • The company has contingent liabilities and its business, results of operations, cash flows and financial condition may be adversely affected if these contingent liabilities materialize.
  • Industry information included in this Red Herring Prospectus has been derived from an industry report commissioned by us and paid for by it for such purpose.
  • The company has in this document included certain non-GAAP financial measures and certain other selected statistical information related to its operations and financial condition. These non-GAAP measures and statistical information may vary from any standard methodology that is applicable across the financial services industry and therefore may not be comparable with financial or statistical information of similar nomenclature computed and presented by other financial services companies.
  • The bank ruptcy code in India may affect its rights to recover loans from its customers.
  • The company does not own all its branch offices. Any termination or failures by the company to renew the lease agreements in a favourable and timely manner, or at all, could adversely affect its business, results of operations, cash flows and financial condition. Moreover, many of the lease agreements entered into by it may not be duly registered or adequately stamped.
  • Its ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures, restrictive covenants of its financing arrangements and compliance with applicable laws.
  • Significant or adverse changes by the Government, Reserve Bank of India or National Housing Bank in their policy initiatives facilitating the provision of housing and housing finance or any change in the tax incentives that the Government currently provides to housing finance companies may have an adverse effect on its business, results of operations and financial condition.
  • A portion of the proceeds from this Offer will not be available to the company.
  • Continue to leverage technology and analytics to enhance productivity, reduce expenses, improve customer experience and manage risks.
  • Diversifying and strengthening market presence with strategic customer focus and comprehensive risk management.
  • Continue to diversify our borrowing profile to optimize borrowings costs.
  • Continue to attract, train and retain talented employees.

Bajaj Housing Finance Ltd IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 88.75%

Bajaj Housing Finance Ltd IPO Subscription Status (Bidding Detail)

The Bajaj Housing Finance Ltd IPO is subscribed 63.61 times on Sep 11, 2024 05:00:00 PM. The public issue subscribed 7.04 times in the retail category, 209.36 times in the QIB category, and 41.51 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) 209.36 41.51 7.04 2.05 63.61

Bajaj Housing Finance Ltd IPO Prospectus

Bajaj Housing Finance Ltd IPO Listing Date

Listing Date 16 Sep 24
BSE Script 544252
NSE Symbol BAJAJHFL
Listing In BSE, NSE
ISIN INE377Y01014
IPO Price ₹70
Face Value ₹10

Bajaj Housing Finance Ltd IPO Registrar

KFin Techologies Ltd

Phone: +91 40 6716 2222
Email: bhfl.ipo@kfintech.com
Website: www.kfintech.com

Bajaj Housing Finance Ltd IPO Lead Manager(s)

  1. Kotak Mahindra Capital Company Ltd
  2. BofA Securities India Ltd
  3. Axis Capital Ltd
  4. Goldman Sachs (India) Securities Pvt Ltd
  5. SBI Capital Markets Ltd
  6. JM Financial Ltd
  7. IIFL Securities Ltd

FAQs on Bajaj Housing Finance Ltd IPO

Bajaj Housing Finance Ltd IPO, which opens for subscription from 09-Sep-2024 to 11-Sep-2024 has an issue size of ₹6560 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Bajaj Housing Finance Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Bajaj Housing Finance Ltd IPO Opens for subscription from 09-Sep-2024 to 11-Sep-2024.

The lot size of Bajaj Housing Finance Ltd is 214 shares. Retail investors can subscribe to minimum 1 lot and maximum 13 lots. The minimum and maximum application value is ₹14980 and ₹194740 respectively.

Allotment date for Bajaj Housing Finance Ltd is 12-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 13-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 13-Sep-2024.

The registrar for Bajaj Housing Finance Ltd IPO is KFin Techologies Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Bajaj Housing Finance Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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