Bajaj Housing Finance Files DRHP For Rs 70 Bn IPO
The public issue of Bajaj Housing Finance will include a sale of shares by existing shareholders, says Bajaj Finance in an exchange filing
India's Bajaj Housing Finance submitted the draft red herring prospectus (DRHP) with market regulator to raise up to Rs 70 billion through an initial public offering (IPO).
The company, which is a division of non-bank finance company Bajaj Finance, plans to raise Rs 40 billion through primary issue.
"The board approved an offer for sale of up to such number of equity shares of face value Rs 10 each of wholly-owned subsidiary, Bajaj Housing Finance aggregating to Rs 3,000 crore," Bajaj Finance said in an exchange filing.
The public issue of Bajaj Housing Finance will include a sale of shares by existing shareholders, said Bajaj Finance in an exchange filing.
The company is the first high-profile firm seeking regulatory approval for an IPO after the recent national elections.
The Reserve Bank of India (RBI) established standards for Bajaj Housing Finance to be listed on stock markets by September 2025 and published a list of NBFCs with Rs 500 billion in assets under management (AUM) in September 2022.
