Bajaj Housing Finance IPO raises ₹1758 crore from anchor book

9 Sep 2024 , 09:50 AM

Bajaj Housing Finance IPO has opened for subscription today. The company has allocated shares worth ₹1,758 crore to anchor investors ahead IPO on September 6.

In the exchange filing, Bajaj Housing Finance revealed that the company’s IPO Committee, in consultation with book running lead managers, finalized the allocation of 251,142,856 equity shares to anchor investors. The allocation was made at an anchor investor price of ₹70 per share, which includes a share premium of ₹60 per share.

Key Anchor Investors

Among the major investors, the Singapore government has invested ₹62.73 crore, representing a 3.57% stake via anchor book. ICICI Prudential Banking and Financial Services Fund invested ₹79.99 crore, representing 4.55% of the issue size. New World Fund Inc also played an important role by investing in the company by constributing 4.27% of anchor portion worth ₹74.99 crore. A total of 104 key investors participated in this allocation.

The IPO also attracted 21 mutual funds, which applied through 43 schemes and invested about Rs 627.99 crore.

IPO Details

The public issue, which opened on September 9, 2024, comprises issuance of new shares worth Rs 3,560 crore. In addition, parent company Bajaj Finance will sell shares worth ₹3,000 crore through an offer for sale (OFS) component. The company has set the IPO price band at ₹66 to ₹70 per share. The post-issuance market capitalization of the company is expected to be around ₹58,300 crore.