If you want to invest in Initial Public Offering (IPO) and have missed investing in the issue that came out recently, then this news is special for you. Actually, you are going to get a great opportunity to earn, because a big issue of Rs 6,500 crore is going to open in the IPO market and Bajaj Housing Finance, a company of Bajaj Group, one of the oldest business houses in the country, is offering it. It will open for investors on 9 September.
Opportunity to invest money till 11 September
Investors have been waiting for Bajaj Housing Finance IPO for a long time. Now this much-awaited IPO is ready to open and bidding can be done from 9 September 2024. According to the report, investors will have three days to invest in it and it will close on 11 September. However, the price band (Bajaj IPO Price Band) has not been disclosed by the company yet.
Price bank announced this week
Bajaj Housing Finance plans to raise Rs 6,560 crore from the market through IPO by selling part of its primary stakeholding. In this big IPO, fresh shares worth Rs 3,560 crore will be issued for investors. Apart from this, shares worth Rs 3,000 crore will be sold by the company’s promoters and existing shareholders through Offer-for-Sale (OFS). The price band for this IPO will be announced two days later on September 3, 2024, while this issue will open for anchor investors on Friday, September 6.
When will it be listed in the stock market?
After opening from September 9 to September 11, the process of allotment of shares of the company will be on September 12 and the refund process will be on September 13. Along with this, the process of crediting shares to the demat accounts of the bidding investors will start from September 13 itself. The company has fixed the date of 16 September 2024 for the possible listing of the company’s shares in the stock market.
The buzz has already started in the grey market
The grey market premium (GMP) for Bajaj Housing Finance rose sharply to Rs 65 per share even before the issue price band was announced. The book running lead managers for the issue include Kotak Mahindra Capital, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities.
The company has 215 branches in 20 states
Bajaj Housing Finance was established in the year 2008 and was registered with the National Housing Bank (NHB) in the year 2015. After this, since the year 2018, this company is engaged in providing mortgage loans or loans against properties. This housing finance firm is part of the Bajaj Group. According to the report, as of March 31, 2024, Bajaj Housing Finance had 3,08,693 active customers, out of which 81.7 percent were home loan customers. The company has a large network of 215 branches in 174 locations across 20 states and 3 union territories.
(Note- Before making any kind of investment in the stock market or IPO market, please consult your market experts.)
Source (PTI) (NDTV) (HINDUSTANTIMES)