Bajaj Housing Finance will mark its debut in Dalal Street on September 16. The company announced on Tuesday, the issue price of Rs 66 – 70 per share for its initial public offering (IPO) worth Rs 6,560 crore.
The IPO will open for subscription on September 9 and close on September 11. It consists of the fresh issue of shares worth Rs 3,560 crore and an offer for sales shares worth Rs 3,000 crore by Bajaj Finance.
The IPO is promoted by Bajaj Finance and Bajaj Finserv. While Axis Capital, Kotak Mahindra Capital, BofA Securities, Goldman Sachs, SBI Capital Markets, JM Finance, and IIFL Securities are the book running lead managers for the IPO.
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Additionally, the company has reserved nearly half of the IPO size, that is, shares worth Rs 2,930 crore, for qualified institutional bidders (QIBs). For non-institutional investors (NIIs), the company has kept 15 per cent of the IPO or shares worth Rs 879, while 35 per cent or shares worth Rs 2,051 crore have been reserved for retail investors.
The company has reserved shares worth Rs 200 crore for employees of the company. Nearly worth Rs 500 crore is kept for employees of Bajaj Finance and Bajaj Finserv.
