Mumbai36 minutes ago
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Bajaj Housing Finance’s IPO is opening on September 9, its price band has been fixed at Rs 66-70 per share. Bajaj Housing Finance wants to raise Rs 6,560 crore through IPO. This IPO will remain open till September 11.
Bajaj Housing Finance wants to raise Rs 6,560 crore through this IPO. New shares worth Rs 3,560 crore will be issued in the IPO. While Rs 3,000 crore will be included in the offer-for-sale.
Minimum investment of Rs 14,980 will be required
The company has fixed the price band of this issue at ₹66-₹70. Retail investors can bid for at least one lot i.e. 214 shares. If you apply for 1 lot as per the upper price band of the IPO of ₹70, then you will have to invest ₹14,980 for it.
Funds will be used to increase lending capacity
The company will use the funds raised from the IPO to increase its capital base, so that funds can be arranged for future business needs. That means the capacity to give loans can be increased.
Company Financials
- Bajaj Housing Finance’s net profit in Q4 was Rs 381 crore. This is a growth of 26% on an annual basis.
- At the same time, the company’s net interest income increased by 11% (YoY) and stood at Rs 629 crore.
- The company’s AUM increased by 32% year-on-year and AUM increased to Rs 91,370 crore.
- At the same time, net total income also increased by 14% (YoY) to Rs 717 crore in Q4.
- The company’s loan disbursal registered an increase of 26% on an annual basis.
What is IPO?
When a company issues its shares to the general public for the first time, it is called Initial Public Offering or IPO. The company needs money to expand its business. In such a situation, instead of taking a loan from the market, the company raises money by selling some shares to the public or by issuing new shares. For this, the company brings IPO.
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