Shares of Bajaj Finance surged by nearly 4 percent on March 28, driven by news of its subsidiary Bajaj Housing Finance’s intention to launch an initial public offering (IPO) with a valuation of $9-10 billion.
The surge in Bajaj Finance’s shares made it the top gainer on the Nifty 50, contributing 17.52 points to the index’s 236.75-point swing.
At 12:08 pm, Bajaj Finance stocks were trading 3.05% at ₹7,237.25 on NSE.
Bajaj Housing Finance has begun preliminary discussions with several investment banks regarding a potential initial public offering, aiming to achieve a valuation of $9-10 billion to adhere to regulatory guidelines.
The initiative is intended to fulfill the RBI’s mandatory requirement for “upper layer” NBFCs to list within three years of notification. As per the current regulatory timeline set by the RBI, Bajaj Housing Finance must go public by September 2025.
