Bajaj Housing Finance IPO Details
Issue Date
--
Price Range
₹66 - ₹70
Lot Size
214
IPO Size
₹6560.00 Cr
Bajaj Housing Finance IPO Listing Details
Listing On
16 Sep'24
Issue Price
₹70
Listed Price
₹ 150
Retail Gain/Listing Gain
▲114.29%
Schedule of Bajaj Housing Finance IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
16/09/2024
Bajaj Housing Finance Company Background
Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) engaged in mortgage lending since Fiscal 2018.
The company offers financial solutions tailored to individuals and corporate entities for the purchase and renovation of homes and commercial spaces. Their product suite comprises home loans, loans against property, lease rental discounting and developer financing.
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Bajaj Housing Finance Competitive Strengths
Distinguished heritage of the “Bajaj” brand
The company is a wholly-owned subsidiary of Bajaj Finance Limited, which is among India’s largest NBFCs, based on AUM, as of March 31, 2024 (Source: CRISIL Report). Their market position is reflected in strong credit ratings, underscoring their financial stability and investor confidence.
Second largest HFC in India (in terms of AUM) with a track record of strong growth driven by a diversified portfolio
The company AUM has grown at a CAGR of 30.9% from FY22 to FY24 and was ₹913,704 million as of March 31, 2024, making them the fourth fastest growing HFC/NBFC as compared to other NBFCs in India (Source: CRISIL Report).
Well-defined credit evaluation and risk management practices resulting in lowest GNPA and NNPA among peers in FY24
The evaluation process is particularly true in the case of their retail loan portfolio wherein their centralised underwriting process coupled with adoption of straight-through processing for salaried customers and Approved Project Finance (APF) projects ensures quicker and more accurate loan evaluations. As at March 31, 2024, they had 6,039 APF projects. This approach is further enhanced by their digitised credit processes and the strategic use of account aggregator integration allowing for efficient retail underwriting.
Risk Factors
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Any inability to comply with financial and other covenants under their debt financing arrangements could adversely affect the business.
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A majority of their home loan portfolio comprises loans to salaried and self-employed customers, who may be adversely affected by factors such as business failure, insolvency, lack of liquidity, loss of employment or personal emergencies. These factors could lead to increased customer defaults, leading to an increase in the levels of non-performing assets and a possible fall in the rate of loan portfolio expansion.
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The company may be impacted by volatility in interest rates, which could cause their net interest income, net interest margins and the value of their fixed income portfolio to decline and adversely affect the business.
Key Strategies
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Continuous leverage of technology and analytics to enhance productivity, reduce expenses, improve customer experience and manage risks.
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Diversifying and strengthening market presence with strategic customer focus and comprehensive risk management.
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Continuous diversification of their borrowing profile to optimise borrowing costs.
Bajaj Housing Finance Limited Key Financials
Here are the key financials for Bajaj Housing Finance Limited:
How to apply for IPO through ASBA
Kotak Securities
•04m 01s
How To Apply for Bajaj Housing Finance Ltd IPO?
Here are the steps to apply for Bajaj Housing Finance Ltd IPO:
Step 1: Log in to your Kotak Securities Demat account Log in to your Demat account to access IPO investments. Next, select the current IPO section.
Step 2: Specify IPO details Enter the number of lots and the price you wish to apply for.
Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
Step 4: Mandate Notification Your UPI app will receive a mandate notification to block funds.
Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.
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