Bajaj Housing Finance raises Rs 1,758 crore via anchor book ahead of IPO

Bajaj Housing Finance

Bajaj Housing Finance allocated shares worth Rs 1,758 crore to anchor investors ahead of its Rs 6,500-crore IPO that opens on September 9.

"The IPO Committee of the Company at its meeting held on September 6, 2024, in consultation with its book running lead managers, has finalized allocation of 251,142,856 Equity Shares, to Anchor Investors at Anchor Investor allocation price of Rs 70 per Equity Share (including share premium of Rs. 60 per Equity Share)..," Bajaj Housing Finance said in an exchange filing.

Major anchor investors included Govt of Singapore, which contributed to 3.57 percent of the anchor issue, at Rs 62.73 crore, ICICI Prudential Banking and Financial Services Fund that contributed to 4.55 percent of the anchor issue at Rs 79.99 crore, and New World Fund Inc contributed 4.27 percent of the anchor portion with Rs 74.99 crore, among others.

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A total of 104 anchor investors were issued shares.

Apart from them, the anchor issue also saw 21 mutual funds applying through a total of 43 schemes, investing around Rs 627.99 crore.

The public issue, which will open for subscription on September 9, comprises of a fresh issue of shares worth Rs 3,560 crore, while its parent company, Bajaj Finance, will sell shares worth Rs 3,000 crore through an Offer for Sale (OFS) component.

The price band of the offering has been fixed between Rs 66 and Rs 70 per share. At the upper end of the price band, the company's post-issue market capitalisation is expected to be around Rs 58,300 crore.

The IPO will close for subscription on September 11.