Bajaj Finance, a non-banking finance company (NBFC), has announced its intention to sell shares of its housing finance subsidiary, Bajaj Housing Finance, through an upcoming initial public offering (IPO). The company plans to raise ₹3,000 crore through this IPO, pending approval from regulatory bodies such as SEBI, the BSE Limited, and the National Stock Exchange of India Limited.
The decision was disclosed in an exchange filing on June 6, with Bajaj Finance’s board giving its approval for the IPO plan. This plan involves raising ₹4,000 crore through a combination of fresh issuance and an offer-for-sale (OFS) component.
In September 2022, the Reserve Bank of India (RBI) identified Bajaj Housing Finance as an upper-layer NBFC, indicating that it should be listed on the stock exchanges by September 2025.
According to a CNBC TV18 report, Bajaj Housing Finance is wholly owned by Bajaj Finance, with Bajaj Finserv holding a 51.34% stake in Bajaj Finance.
On Friday’s trading session, Bajaj Finance’s share price saw a significant increase of over 5%, reaching an intraday high of ₹7,298 on the BSE.
Ruchit Jain, Lead Research Analyst at 5paisa, noted that Bajaj Finance’s share price has been consolidating recently, with resistance observed around ₹7,400 and support at ₹6,600. The company reported a 21.1% year-on-year growth in net profit and net interest income (NII) in the fourth quarter of fiscal year 2024, ending on March 31.
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