Bajaj Housing Finance, one of India’s largest home loan providers, has opened its much-anticipated Initial Public Offering (IPO) to the public. After securing ₹1,750 crores ($209 million) from big institutional investors, the IPO is now open for public subscription and will close on Wednesday.
The total IPO size is ₹6,560 crores ($782 million), with Bajaj Housing Finance issuing fresh shares worth ₹3,350 crores ($424 million). Its parent company, Bajaj Finance, is selling shares worth ₹2,950 crores ($357 million). The price range for shares is set between ₹66 and ₹70 apiece.
Analysts predict strong interest in the offering, as the company is expected to benefit from the growing demand for home loans, especially with rising luxury property prices. Once listed, Bajaj Housing Finance will become India’s most valuable listed home loan provider, with a valuation of around ₹58,600 crores ($7 billion).
India’s stock market has witnessed a boom this year, with around 200 companies raising over ₹58,600 crores ($7 billion) through IPOs. Some of the big names include Ola Electric and Bharti Hexacom.
