• Source:JND
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Bajaj Housing Finance's initial public offering of Rs 6,560 crore was fully subscribed within hours of opening for bidding on Monday. Bids for 73,02,58,736 shares were received in the initial share sale against 72,75,75,756 shares till 2:00 pm, reflecting single-day subscriptions, according to NSE data.

The portion reserved for non-institutional investors received 2.29 times the subscription while the retail individual investor (RII) quota received 97 percent subscription. The category of qualified institutional buyers (QIBs) received 2 percent of subscriptions.

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Bajaj Housing Finance on Friday said it had raised Rs 1,758 crore from anchor investors.
The initial share sale will close on September 11th. The offer price band has been set at Rs 66-70 per share. The IPO has a fresh issue of up to Rs 3,560 crore of equity shares and an offer for sale (OFS) of Rs 3,000 crore of equity shares in the parent Bajaj Finance.

The proceeds from the fresh issue will be used to augment the company’s capital base to meet future capital requirements.

Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank since September 2015. It offers financial solutions for the purchase and renovation of residential and commercial properties.

It has been identified and classified as a "high-tier" NBFC by India's RBI and its wide range of mortgage products include home loans, loans against properties, leasehold rent concessions, and developer financing.

Kotak Mahindra Capital Co Ltd,  SBI Capital Markets Ltd, BofA Securities India Ltd, Axis Capital, and JM Financial Ltd, Goldman Sachs (India) Securities Pvt Ltd, are the book-running lead managers of the company that can manage public issues.

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(With PTI's Input)

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