Bajaj Housing Finance Limited (MAINBOARD)
Sep 9, 2024 - Sep 11, 2024
| Price | ₹66 - ₹70 |
| Premium | ₹72 |
|---|---|
| Lot size | 214 |
| Allotment | Sep 13, 2024 |
| Listing | Sep 16, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 214 | 14980 | 1369159 |
| sHNI | 14 | 2996 | 209720 | 13971 |
| bHNI | 67 | 14338 | 1003660 | 27942 |
Last updated on 11-Sep-2024 19:56:17
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 167428580 | 37177059692 | 222.05 |
| HNIs | 125571430 | 5535440416 | 44.08 |
| HNIs 10+ | 83714286 | 4230257840 | 50.53 |
| HNIs 2+ | 41857143 | 1305182576 | 31.18 |
| Retail | 293000000 | 2209135910 | 7.54 |
| Employees | 28571428 | 63934426 | 2.24 |
| Shareholders | 71428571 | 1331827074 | 18.65 |
| Total | 686000009 | 46317397518 | 67.52 |
Application Wise Breakup (Approx) | |||
|---|---|---|---|
| Category | Reserved | Applied | Times |
| HNIs (10L+) | 27942 | 245538 | 8.79 |
| HNIs (2-10L) | 13971 | 392498 | 28.09 |
| Retail | 1369159 | 7335425 | 5.36 |
| Shareholder | - | 936447 | - |
| Employee | - | 163652 | - |
| Total Applications: 9073560 | |||
| © IPO Premium | |||
| Subscription Demand (in ₹ crore) | |||
|---|---|---|---|
| Category | Offered | Demand | Times |
| QIBs | 1172 | 260239.42 | 222.05 |
| FIIs | - | 108178.9 | - |
| DIIs | - | 87092.1 | - |
| Mutual funds | - | 27715.57 | - |
| Others | - | 29417.69 | - |
| HNIs | 879 | 38748.08 | 44.08 |
| HNIs 10+ | 586 | 29611.8 | 50.53 |
| HNIs 2+ | 293 | 9136.28 | 31.18 |
| Retail | 2051 | 15463.95 | 7.54 |
| Employees | 200 | 447.54 | 2.24 |
| Shareholders | 500 | 9322.79 | 18.65 |
| Total | 4802 | 324221.78 | 67.52 |
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹20.87 | @8% ₹23.85 | @9% ₹26.83 | @10% ₹29.81 | @11% ₹32.79 | @12% ₹35.77 |
In the Bajaj Housing Finance IPO, the shareholder quota has 3,33,778 lots available for allotment, and the allotment will be done on a proportional basis. The maximum application limit for the shareholder quota is up to ₹2 lakh. This means shareholders can apply for multiple lots, but the total application value must not exceed ₹2 lakh.
Bajaj Housing Finance IPO Details
| Total Issue Size | [937,142,858] shares (aggregating up to ₹6560.00 Cr) |
| Fresh Issue | [508,571,429] shares (aggregating up to ₹3560.00 Cr) |
| Offer for Sale | [428,571,429] shares of ₹10 (aggregating up to ₹3,000.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 7,819,575,273 |
| Share holding post issue | 8,328,146,702 |
Bajaj Housing Finance IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Reservation Quota (Shareholder) | Not more than 10.00% of the Offer |
Key Performance Indicators
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 15.20% | 14.60% | 11.10% |
| RONW | 15.20% | 14.60% | 11.10% |
| D/E | 5.7 | 5.1 | 6.2 |
| EPS (basic) | 2.6 | 1.9 | 1.5 |
| P/E Pre IPO | 31.62 | ||
| P/E Post IPO | 30.2 |
Financial Statement (Restated)
| Period Ended | Jun-24 | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|---|
| Assets | 88,538.83 | 81,827.09 | 64,654.14 | 48,527.08 |
| Revenue | 2,208.73 | 7,617.71 | 5,665.44 | 3,767.13 |
| Profit After Tax | 482.61 | 1,731.22 | 1,257.80 | 709.62 |
| Net Worth | 14,719.91 | 12,233.50 | 10,503.19 | 6,741.36 |
| Reserves and Surplus | 4,252.83 | 5,520.81 | 3,791.03 | 1,858.03 |
| Total Borrowing | 73,347.06 | 69,129.32 | 53,745.39 | 41,492.32 |
| Amount in Crore | ||||
About Company
Incorporated in June 2008, Bajaj Housing Finance Limited (BHFL), a subsidiary of Bajaj Finance Limited, stands as a prominent player in India's financial sector, particularly within the Non-Banking Financial Company (NBFC) landscape. Classified as an 'Upper-Layer NBFC' by the Reserve Bank of India (RBI) under its Scale Based Regulations, BHFL specializes in offering a wide array of financial products, including home loans, loans against property, and working capital solutions for businesses. Headquartered in Pune, BHFL caters to both individual and corporate clients, with a strong focus on the real estate sector. The company’s robust financial health is underscored by its AAA/Stable and A1+ credit ratings from CRISIL and India Ratings, reflecting its high creditworthiness and stable outlook in both long-term and short-term debt programmes. BHFL's comprehensive service portfolio and strong market presence position it as a trusted financial partner for over 308,693 customers across India, with a total of 2,372 employees as of March 2024.
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Strong Brand Heritage: The “Bajaj” brand is well-established and recognized for reliability, contributing to significant brand equity.
Market Leadership: As the second largest housing finance company (HFC) in India by assets under management (AUM), the company boasts a strong growth trajectory and a diversified portfolio.
Advanced Omni-Channel Strategy: The Company employs a strategic omni-channel sourcing approach, leveraging customer-focused digital initiatives and technology to enhance its market presence and operational efficiency.
Collateral Recovery Risks: Inability to fully recover collateral value or outstanding sums from defaulted loans could negatively impact the company's financial health and cash flows.
Non-Performing Assets: Difficulty in managing gross non-performing assets (NPAs) or maintaining adequate provisioning could adversely affect financial stability and results.
Covenant Compliance: Failure to comply with financial and other covenants in debt financing agreements may harm the company’s business, results of operations, and financial condition.