IPO Details
Bidding Dates
09 Sep '24 - 11 Sep '24
Minimum Investment
₹ 14,980 / 1 Lots ( 214 Shares )
Price Range
₹66 - ₹70
Maximum Investment
₹ 194,740 / 13 Lots ( 2782 Shares )
Retail Discount
Not Applicable
Issue Size
₹ 6,560 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investors | Eligible Employees and Eligible Shareholders |Bajaj Housing Finance IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Sep 9, 2024
IPO Closing Date
Sep 11, 2024
IPO Allotment Date
Sep 12, 2024
Initiation of Refunds
Sep 13, 2024
Listing Date
Sep 16, 2024
About Bajaj Housing Finance Limited
Bajaj Housing Finance Limited, registered with the National Housing Bank on September 24, 2015, began mortgage lending in Fiscal 2018. Bajaj Housing Finance offers a diverse range of financial solutions for both individuals and corporate entities. These solutions include home loans, loans against property (LAP), lease rental discounting, and developer financing.
The company primarily focuses on individual retail housing loans, supplemented by various lease rental discounting and developer loans. As of March 31, 2024, Bajaj Housing Finance's assets under management (AUM) stood at ₹913,704.0 million, showcasing a compound annual growth rate (CAGR) of 30.9% from Fiscal 2022 to 2024. The average ticket size for its home loans was ₹4.6 million, with an average loan-to-value ratio of 70.5%.
The company offers the most diversified suite of mortgage lending products in India and has the highest proportion of salaried customers in its home loan portfolio among large HFCs. It is known for focusing on prime housing and has one of the highest average ticket sizes.
Part of the renowned Bajaj group, founded in 1926, Bajaj Housing Finance has a strong presence across various sectors. As of March 31, 2024, it served 308,693 active customers, 81.7% of whom were home loan customers. Over the last three fiscals, the company's loan disbursements show significant growth, underlining its expanding market reach.
Bajaj Housing Finance operates through a network of 215 branches across 174 locations in 20 states and three union territories. This network is supported by six centralised hubs for retail underwriting and seven processing hubs, ensuring efficient service delivery to meet the diverse needs of its customers across urban and upcountry locations.
Industry Outlook:
- India's total housing loans reached ₹28.73 trillion by March 2023, underlining a huge market opportunity against a projected housing shortage of 100 million units.
- The prime housing finance market in India grew to ₹9.3 trillion by Fiscal 2023, with a robust CAGR of 19.5% from 2019, outpacing the broader market's growth.
Bajaj Housing Finance IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Augmenting the company’s capital base to meet future business requirements of the company toward onward lending.
- General corporate purposes.
Peer Details
The companies considered by Bajaj Housing Finance as its peers include:
- LIC Housing Finance Limited
- PNB Housing Finance Limited
- Can Fin Homes Limited
- Aadhar Housing Finance Limited
- Aavas Financiers Limited
- Aptus Value Housing Finance Limited
- Home First Finance Limited
How to Apply for Bajaj Housing Finance IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select Bajaj Housing IPO: Find and select the Bajaj Finance IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How to Check the Allotment Status of the Bajaj Housing Finance IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Bajaj Housing Finance IPO
- Registered office: Bajaj Auto Limited Complex, Mumbai Pune Road, Akurdi, Pune 411 035, Maharashtra, India
- Phone: +91 2071878060
- E-mail:bhflinvestor.service@bajajfinserv.in
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Assets Under Management (in ₹ million) | 913,704.0 | 692,279.0 | 533,217.2 |
| Disbursement (in ₹ million) | 4,46,562.4 | 3,43,336.3 | 2,61,752.4 |
| Revenue from Operations (in ₹ million) | 76,173.1 | 56,647.3 | 37,667.1 |
| Profit After Tax (PAT) (in ₹ million) | 17,312.2 | 12,578.0 | 7,096.2 |
| Cash & Cash Equivalents (in ₹ million) | 638.6 | 938.8 | 4,070.3 |
| Net Worth (in ₹ million) | 122,335.0 | 105,031.9 | 67,413.6 |
| Debt to Equity Ratio(x) | 5.7 | 5.1 | 6.2 |
| Capital to Risk Assets Ratio (CRAR) (%) | 21.28 | 22.97 | 19.71 |
| Return on Average Assets (ROAA) (%) | 2.4 | 2.3 | 1.8 |
| NIM (Net Interest Margin) / NTI (Net Total Income) (%) | 4.1 | 4.5 | 4.0 |
| Earning Per Share (EPS)-in absolute ₹ | 2.6 | 1.9 | 1.5 |
Know before investing
Strengths
7-
Bajaj Housing Finance holds an AUM of ₹913,704.0 million as of 2024.
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Achieved a CAGR of 30.9% from Fiscal 2022 to 2024.
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Maintains lowest GNPA and NNPA ratios among peers in 2024.
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Experienced management team with over 21 years of association with the Bajaj group.
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Extended distribution with 1,784 active channel partners by 2024.
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Disbursed loans amounting to ₹446.6 billion in Fiscal 2024.
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Operates 215 branches across 174 locations in 20 states.
Risks
6-
The inability to recover full collateral value could adversely affect financial stability.
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Exposure to real estate sector fluctuations risks asset value declines.
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Developer financing loans at 10.5% AUM risk due to project delays.
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Regulatory changes could increase provisioning needs, affecting financial health.
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Interest rate volatility could erode Net Interest Margins, currently at 4.1%.
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Periodic NHB inspections risk penalties if non-compliance is found.
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Choose IPO section on Home Page
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Bajaj Housing Finance IPO FAQs
Bajaj Housing Finance IPO is a book-built IPO that will open from September 9, 2024 to September 11, 2024.
The Basis of Allotment will happen on Thursday, September 12, 2024.
The IPO subscription window will open on September 9, 2024.
Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.
The listing date for Bajaj Housing Finance IPO is Monday, September 16, 2024.
Steps to check Bajaj Housing Finance IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
