Bajaj Housing Finance Limited IPO

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Housing Finance Company

Listed On: Sep 16, 2024 at ₹ 150.0(NSE)

₹ 14980 /214 Shares

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Price Summary

Last Closing

173.19 (147.41%)

52 Week High

188.50

52 Week Low

146.00

Last Update

18-Sep-2024 3:30 PM

Bajaj Housing Finance IPO Details

09 Sep, 2024

Open Date

11 Sep, 2024

Close Date

12 Sep, 2024

Allotment Date

16 Sep, 2024

Listing Date

Issue Price

₹66-70 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Kfin Technologies Limited

List Price

150.0(NSE)

Listing Date

2024-09-16

Market Lot

Retail : 214 Shares (₹14,980/-)
S-HNI : 2,996 Shares (₹2,09,720/-)
B-HNI : 14,338 Shares (₹10,03,660/-)

Lead Manager

Kotak Mahindra Capital Company Limited
Bofa Securities India Limited
Axis Capital Limited
Goldman Sachs (India) Securities Private Limited
SBI Capital Markets Limited
Jm Financial Limited
Iifl Securities Ltd

Issue Size

Total ₹6,560 Cr :
#Fresh Issue : 508,571,429 shares(aggregating up to ₹3,560 Cr) +
#OFS : 428,571,429 shares of ₹10(aggregating up to ₹3,000 Cr)

Retail Portion

35% (Number of Retail Applications: 13,69,159 Approx),
(Number of S-HNI Applications : 13,971 Approx),
(Number of B-HNI Applications : 27,942 Approx),
(Number of Shareholder Applications : 3,33,378 Approx)

Subscription

63.52 times

IPO Docs

DRHP RHP ANCHOR

Bajaj Housing Finance IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	167,428,580	125,571,430 83,714,286 41,857,143	293,000,000	686,000,009
Day 1 - 09-09-24 05:00 PM	1.07 x	4.34 4.49 x 4.03 x	1.50 x	2.01 x
Day 2 - 10-09-24 05:00 PM	7.46 x	16.46 17.98 x 13.41 x	3.84 x	7.51 x
Day 3 - 11-09-24 05:00 PM	209.36 x	41.42 47.64 x 28.98 x	6.93x/SH:18.54 x	63.52 x

Total No. of Applications: 88,53,409 (Approx)

Retail Subscription on the basis of Applications: Retail:5.36x BHNI:8.79x SHNI:27.71x times

Bajaj Housing Finance Valuations

EPS Pre IPO

₹2.21/-

EPS Post IPO

₹2.32/-

P/E Pre IPO

31.62

P/E Post IPO

30.2

RoNW

3.6%

Bajaj Housing Finance Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	81,827.09	64,654.14	48,527.08
Revenue	7,617.71	5,665.44	3,767.13
Profit After Tax	1,731.22	1,257.8	709.62

About The Company

Bajaj Housing Finance Limited, registered with the National Housing Bank on September 24, 2015, began mortgage lending in Fiscal 2018. Within seven years, it became the largest non-deposit-taking HFC in India by AUM and the second-largest HFC overall. It's also the eighth-largest NBFC-UL in India, notable for its profitability with strong returns on average assets and equity in Fiscal 2024. The company leads its peers with the fastest AUM CAGR growth rate from Fiscal 2022 to 2024.

Bajaj Housing Finance offers a diverse range of financial solutions for both individuals and corporate entities. These solutions include home loans, loans against property (LAP), lease rental discounting, and developer financing. The company primarily focuses on individual retail housing loans, supplemented by various lease rental discounting and developer loans.

As of March 31,2024, Bajaj Housing Finance's assets under management (AUM) stood at ₹913,704.0 million, showcasing a compound annual growth rate (CAGR) of 30.9% from Fiscal 2022 to 2024. The average ticket size for its home loans was ₹4.6 million, with an average loan-to-value ratio of 70.5%. Additionally,75.8% of the company's home loan AUM came from customers with a CIBIL score above 750.

The company offers the most diversified suite of mortgage lending products in India and has the highest proportion of salaried customers in its home loan portfolio among large HFCs. It is known for focusing on prime housing and has one of the highest average ticket sizes.

Bajaj Housing Finance operates through a network of 215 branches across 174 locations in 20 states and three union territories. This network is supported by six centralised hubs for retail underwriting and seven processing hubs, ensuring efficient service delivery to meet the diverse needs of its customers across urban and upcountry locations.

Bajaj Housing Finance - Strength and Weakness

Strength

Bajaj Housing Finance holds AUM of ₹913,704.0 million as of 2024.

Experienced management team with over 21 years of association with the Bajaj group.

Operates 215 branches across 174 locations in 20 states.

Weakness

Inability to recover full collateral value could adversely affect financial stability.

Regulatory changes could increase provisioning needs, affecting financial health.

Interest rate volatility could erode Net Interest Margins, currently at 4.1%.

Bajaj Housing Finance - Peers Comparison

	P/B Ratio	P/E Ratio	RoNW	Net Worth
Bajaj Hosing Finance	3.72	33.27	15.2%	7,617
LIC Housing Finance	1.18	7.81	16.2%	27,315
PNB Housing Finance	1.70	15.9	11.6%	7,166
Home First Finance	4.81	31.7	15.5%	1,219
Can Fin Homes	2.65	15.0	18.8%	3,630
Aadhar Housing	N/A	22.0	18.4%	2,587
AAVAS Financiers	3.61	16.9	13.9%	2,093
Aptus Value Housing	4.34	25.5	17.2%	1,454

Bajaj Housing Finance - Promoter(s)

Pre Issue Share Holding: 100%

Post Issue Share Holding: 87.80%

Company Promoter(s)

Bajaj Finance Limited and Bajaj Finserv Limited

Bajaj Housing Finance IPO - Issue Objectives

Augmenting the company’s capital base to meet future business requirements of the company towards onward lending
General corporate purposes.

Bajaj Housing Finance IPO - Anchor Investors

Bajaj Housing Finance raises Rs 1,758 crore via anchor book.

Major anchor investors included Govt of Singapore, which contributed to 3.57 % of the anchor issue, at Rs 62.73 crore, ICICI Prudential Banking and Financial Services Fund that contributed to 4.55 % of the anchor issue at Rs 79.99 crore, and New World Fund Inc contributed 4.27 % of the anchor portion with Rs 74.99 crore.

The anchor issue also saw 21 mutual funds applying through a total of 43 schemes, investing around Rs 627.99 crore.

Other Details

Company Contact Details

Bajaj Housing Finance

Bajaj Auto Limited Complex, Mumbai-Pune Road, Akurdi, Pune - 411035

Phone: +91 20 7187806

Email: bhflinvestor.service@bajajfinserv.in

Website: https://www.bajajhousingfinance.in/

Registrar Contact Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: bhfl.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

Bajaj Housing Finance IPO - FAQs

Ans. Bajaj Housing Finance Limited IPO is a Mainboard IPO. The issue is priced at ₹66-70 per equity share. The minimum order quantity is 214 Shares. The IPO opens on Sep 9, 2024, and closes on Sep 11, 2024. Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Bajaj Housing Finance Limited IPO opens on Sep 9, 2024 and closes on Sep 11, 2024.

Ans. The size of Bajaj Housing Finance Limited IPO is Total ₹6,560 Cr : #Fresh Issue : 508,571,429 shares(aggregating up to ₹3,560 Cr) + #OFS : 428,571,429 shares of ₹10(aggregating up to ₹3,000 Cr).

Ans. The IPO price band is set between ₹66-70 per equity share.

Ans. To apply for Bajaj Housing Finance Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Bajaj Housing Finance Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Bajaj Housing Finance Limited IPO is Sep 12, 2024.

Ans. The Bajaj Housing Finance Limited IPO will be listed on Sep 16, 2024.

Ans. Follow the steps to check the allotment status for Bajaj Housing Finance Limited IPO here.