Bajaj Housing Finance files DRHP for Rs 7,000-cr IPO; parent Bajaj Finance to sell Rs 3,000-cr shares

Bajaj Housing Finance launches product targeting affordable housing segment

Bajaj Housing Finance has filed the DRHP (Draft Red Herring Prospectus) with capital markets regulator SEBI for its proposed IPO, to raise as much as Rs 7,000 crore. The public issue includes a fresh issue of shares worth Rs 4,000 crore. Parent Bajaj Finance Ltd will sell shares worth another Rs 3,000 crore via an offer for sale, according to the prospectus.

Moneycontrol was the first to report the firm's listing plans on March 27. Shares of Bajaj Housing will be listed on the BSE and NSE.

Also Read | Bajaj Finance arm Bajaj Housing Finance files draft papers for upto Rs 7,000 crore IPO

Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities Pvt Ltd, SBI Capital Markets Ltd, JM Financial Ltd, and IIFL Securities Ltd are the book-running lead managers. KFin Technologies Ltd was the registrar to the issue.

Bajaj Housing will utilise the net proceeds from the fresh issue to augment its capital base to meet future business requirements.  A portion of the proceeds from the fresh issue will be used towards meeting offer expenses.

Listing of the shares on the stock exchanges will also enhance the company's brand name and help create a public market for its equity shares in India, Bajaj Housing said in its DRHP.

Bajaj Housing has not yet disclosed the price band and the dates of listing.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.