Bajaj Housing Finance Limited’s IPO closed in September 2024. The offer was priced at ₹70 per share, raised ₹6,560 crore in total, and the shares listed on NSE and BSE on 16 September 2024. It comprised a ₹3,560 crore fresh issue for the company and a ₹3,000 crore offer for sale by promoter Bajaj Finance Limited.
Bajaj Housing Finance IPO: key details
| Detail | Offer terms |
|---|---|
| Total offer | ₹65,600 million (₹6,560 crore), comprising 937,142,856 shares at the final offer price of ₹70 each, according to the company’s prospectus dated 11 September 2024. |
| Price band | ₹66–₹70 per share; final offer price ₹70. Face value was ₹10 per share. (Company prospectus, 11 September 2024.) |
| Fresh issue | ₹35,600 million (₹3,560 crore), with proceeds going to Bajaj Housing Finance Limited. |
| Offer for sale (OFS) | ₹30,000 million (₹3,000 crore), consisting of shares sold by promoter Bajaj Finance Limited; proceeds went to the selling shareholder. |
| Listing date | 16 September 2024 on NSE and BSE, as reported by the company. |
| Offer status | Closed; it is not open for applications. |
Offer terms in the table are from the company’s prospectus dated 11 September 2024. The listing date is reported in the company’s results filing for the quarter ended 30 September 2024.
How the ₹6,560 crore offer was divided
Fresh issue: ₹3,560 crore for the company
In a fresh issue, the company creates and issues new shares. The ₹3,560 crore fresh-issue portion of this offer was for Bajaj Housing Finance Limited, rather than for an existing shareholder selling shares. In its filing dated 21 October 2024, the company reported net IPO proceeds of ₹3,499.55 crore after estimated issue expenses of ₹60.45 crore. That net figure refers to the company’s proceeds from the IPO, not the full amount raised across the fresh issue and OFS.
OFS: ₹3,000 crore for Bajaj Finance
In an offer for sale, an existing shareholder sells its shares. Bajaj Finance Limited sold shares valued at ₹3,000 crore in this IPO; the proceeds from that portion went to Bajaj Finance, not to Bajaj Housing Finance. Adding the fresh issue and OFS gives the total offer size of ₹6,560 crore.
#1 Best Overall
The prospectus described a book-building offer and included reservation portions for eligible employees and eligible shareholders alongside public investor categories. Those reservation provisions formed part of the offer structure; they do not change who received the fresh-issue and OFS proceeds.
Price band, offer documents and timeline
The company’s prospectus, dated 11 September 2024, gives a price band of ₹66 to ₹70 per share and a final offer price of ₹70. The face value was ₹10 per share. SEBI’s filing index dates the red herring prospectus (RHP) to 30 August 2024 and the final prospectus filing to 11 October 2024. These are document dates: the prospectus itself is dated 11 September, the pricing date, while the final prospectus was filed later.
The shares listed on the National Stock Exchange of India (NSE) and BSE on 16 September 2024, according to the company’s filing for the quarter ended 30 September 2024. The IPO is therefore a historical offer, not an active application opportunity.
What the prospectus said about price and trading risk
The prospectus stated: “This being the first public issue of Equity Shares of our Company, there has been no formal market for the Equity Shares.” The company also warned that the floor price, cap price and offer price “should not be considered to be indicative of the market price of the Equity Shares after the Equity Shares are listed,” and that it could not assure active or sustained trading. These are the issuer’s risk disclosures in the 11 September 2024 prospectus, not a forecast of how the shares would perform.
As a result, ₹70 answers what investors paid in the IPO; it does not establish a later market value or say whether the shares are attractive now. The prospectus itself cautioned against treating the offer price as an indication of the post-listing market price.
What the 2024 prospectus disclosed about registration
The 2024 offer document records an NHB registration dated 24 September 2015 to conduct housing-finance business without accepting public deposits. This is a historical disclosure from that prospectus; it should not be read as confirmation of the company’s current regulatory status.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Comparing this IPO with another offer
An issue price alone is not a useful basis for comparing IPOs, because share counts, face values and valuations differ. For a more meaningful comparison, examine the following on a consistent basis:
Quick Recap
- Total offer size.
- Fresh issue versus OFS, including which party receives each portion’s proceeds.
- Price band and final offer price.
- Investor reservation and allocation structure.
- Listing date.
- Prospectus disclosures about trading and other risks.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
