Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015 and has been offering mortgage loans since the financial year 2018.
The company is part of the Bajaj Group, a diversified group of companies with interests in various sectors. Bajaj Housing Finance provides customized financial solutions to individuals and corporates for the purchase and renovation of homes and commercial spaces. The company's mortgage product range is comprehensive and includes (i) home loans, (ii) loan against property (LAP), (iii) rent concessions, and (iv) developer finance.
As of March 31, 2024, the company had 308,693 active customers, of which 81.7% were home loan customers.
The Company has a network of 215 branches in 174 locations across 20 states and three union territories, overseen by six centralized retail loan review centers and seven centralized loan processing centers.
| Purpose | Amount (₹ Cr) |
|---|---|
| Augment capital base to meet future business requirements of the company towards onward lending. | — |
| Metric | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 88,539 | 81,827 | 64,654 |
| Revenue | 2,209 | 7,618 | 5,665 |
| PAT | 483 | 1,731 | 1,258 |
| Net Worth | 14,720 | 12,234 | 10,503 |
| Reserves | 4,253 | 5,521 | 3,791 |
| Total Borrowing | 73,347 | 69,129 | 53,745 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 418,571,428 (45%) | — |
| NII / HNI | — | 125,571,429 (13%) | — |
| Retail (RII) | — | 293,000,000 (31%) | — |
| Employee | — | 28,571,428 (3%) | — |
| Total | — | 937,142,856 (100%) | — |
* Amount calculated at upper price band (₹70) · ** Total includes all investor categories
- 1 Initiation of Refund 13 Sep 2024
- 2 Credit of Shares to Demat 13 Sep 2024
- 3 Lock-in Period (30%) October 12, 2024
- 4 Lock-in Period (50%) December 11, 2024
- Retail allocation is good at 31% of the total offering.
- HNI/NII demand is good at 13%.
- Institutional (QIB) interest is strong at 45%.
- The IPO P/E of 30x reflects a moderate valuation relative to typical market ranges.
- Pre-issue EPS of ₹2 compares to post-issue EPS of ₹2 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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