Bajaj Housing Finance IPO
Bajaj Housing Finance IPO — date, price band, lot size & details 2024
Bajaj Housing Finance listed on 16 Sep 2024 at ₹150, 114.3% above the ₹70 issue price.
Bajaj Housing Finance is a non-deposit taking housing finance company in the Bajaj group, classed as an Upper Layer NBFC by the RBI. Its total income was Rs 7,617.71 crore in FY2024.
Stock price
Bajaj Housing Finance is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 11 November.
- Open 09 Sep 2024
- Close 11 Sep 2024
- Allotment 12 Sep 2024
- Refund/credit 13 Sep 2024
- Listing 16 Sep 2024
Issue summary
The terms of the offer, as filed.
| IPO Dates | 9 to 11 Sep, 2024 |
|---|---|
| Price Band | ₹66 – ₹70 |
| Face Value | ₹10 |
| Lot Size | 214 Shares |
| Issue Size | ₹6560 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,980 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 214 shares at the ₹70 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 214 | ₹14,980 |
| Retail (max) | 13 | 2,782 | ₹1,94,740 |
| S-HNI (min) | 14 | 2,996 | ₹2,09,720 |
| S-HNI (max) | 66 | 14,124 | ₹9,88,680 |
| B-HNI (min) | 67 | 14,338 | ₹10,03,660 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Profit after tax rose from Rs 709.62 crore in FY2022 to Rs 1,731.22 crore in FY2024.
- 02Total income rose from Rs 3,767.13 crore in FY2022 to Rs 7,617.71 crore in FY2024.
- 03Rs 3,560.00 crore of the issue was fresh capital for lending growth.
- 04It is backed by Bajaj Finance, which kept about 88.75% after the issue, and the wider Bajaj group.
- 05Net worth grew from Rs 6,741.36 crore on 31 March 2022 to Rs 14,719.91 crore on 30 June 2024.
Risks · 5
- 01The pre-issue P/E was 31.62 at the upper band of Rs 70, based on EPS of Rs 2.21.
- 02Total borrowing was Rs 73,347.06 crore on 30 June 2024, and the source puts debt to equity at 5.70.
- 03Rs 3,000.00 crore of the issue was offer for sale by the parent.
- 04Housing finance is competitive, and margins depend on borrowing costs. Assets were Rs 88,538.83 crore.
- 05Bajaj Finance held 100% before the issue and about 88.75% after it, as per the RHP share counts.
Three years of numbers
All figures in ₹ crore, as reported in the Bajaj Housing Finance offer document.
| Metric | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 88,538.83 | 81,827.09 | 64,654.14 | 48,527.08 |
| Total Income | 2,208.73 | 7,617.71 | 5,665.44 | 3,767.13 |
| Profit After Tax | 482.61 | 1,731.22 | 1,257.80 | 709.62 |
| NET Worth | 14,719.91 | 12,233.50 | 10,503.19 | 6,741.36 |
| Total Borrowing | 73,347.06 | 69,129.32 | 53,745.39 | 41,492.32 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Bajaj Housing Finance RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Bajaj Housing Finance IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹2.21 | ₹2.32 |
| P/E Ratio (x) | 31.62 | 30.20 |
| Market Cap at Offer Price (₹ Cr) | ₹15,286.29 | ₹14,561.51 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹70 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹3,499.55 Cr of the issue is earmarked to named objects.
About the company
Its mortgage products include home loans, loans against property, lease rental discounting and developer financing, for buying and renovating residential and commercial property. It mainly focuses on individual retail home loans.
Its promoters are Bajaj Finance Limited, which held all its shares before the issue, and Bajaj Finserv Limited.
The IPO was Rs 6,560 crore, with Rs 3,560.00 crore of fresh issue and Rs 3,000.00 crore of offer for sale by Bajaj Finance. Rs 3,499.55 crore was planned to augment the capital base for onward lending.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Bajaj Housing Finance IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
125 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
SBI Capital Markets Ltd.
70 issues handledBest listing: G R Infraprojects (+105.0%). Weakest: Kalyan Jewellers India (-15.0%).
Axis Capital
126 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
93 issues handledBest listing: Premier Energies (+120.0%). Weakest: Rategain Travel Technologies (-15.3%).
IIFL Capital Services Limited
116 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: Rategain Travel Technologies (-15.3%).
Bofa Securities India Limited
25 issues handledBest listing: Tata Technologies (+140.0%). Weakest: SBI Cards (-12.5%).
Goldman Sachs (India) Securities Private Limited
14 issues handledBest listing: Urban Company (+57.5%). Weakest: Paytm (-9.3%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Bajaj Housing Finance?
The current Grey Market Premium is ₹70, or 100% over the issue price.
What is the Bajaj Housing Finance IPO price band?
₹66 to ₹70, on a face value of ₹10.
When is the allotment?
The basis of allotment is 12 September 2024, with listing on 16 September 2024.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
