Bajaj Housing Finance sets price band of Rs 66-70 a share for its IPO

Bajaj Housing Finance is a diversified NBFC catering to more than 76.5 million customers across the country, according to its website.

Bajaj Housing Finance Ltd has set a price band of Rs 66-70 a share for its initial public offering that will start on September 9.

The anchor bidding will start on September 6 and the issue will close on September 11. Basis of allotment will be on September 12, refunds will be made on September 13 and the stock will list on exchanges on September 16.

The issue comprises of fresh issue of upto Rs 3560 crore and an offer for sale of upto Rs 3000 crore by Bajaj Finance Ltd. On the upper end price band, the total mcap of the firm will at around Rs 58300 crore.

Kotak Mahindra Capital, BofA Securities, Axis Capital, JM Financial Ltd, IIFL Securities, Goldman Sachs and SBI Capital Markets are the book-running lead managers. Cyril Amarchand Mangaldas is the legal advisor to the housing financier.

The move by Bajaj Housing Finance is in line with RBI's mandatory requirement for "upper layer" NBFCs to list within three years of being notified i.e September 2025.

Bajaj Housing Finance is a diversified NBFC catering to more than 76.5 million customers across the country, according to its website. Based in Pune, it offers finance to individuals as well as corporate entities for the purchase and renovation of homes or commercial spaces.