The third share of Bajaj Group is going to hit the market soon. The company has announced the price band for Bajaj Housing Finance IPO which is going to open next week. With this, the uncertainty for investors has been removed and they have come to know how much money they are going to need to bid in Bajaj’s upcoming IPO.
These shares of Bajaj are already in the market
Before Bajaj Housing Finance, 2 shares of Bajaj Group are already present in the stock market. Both those shares are of Bajaj Finance and Bajaj Finserv. Both the shares of Bajaj are counted among the largest shares of the country and both are components of Sensex. Now the IPO of Bajaj Housing Finance is coming, in which Bajaj Finance and Bajaj Finance have the status of promoter.
The company told- what will be the price band
The company has said that the price band of its shares in the IPO will be Rs 66-70. There will be 214 shares in one lot of Bajaj Housing Finance’s IPO. This means that investors will need at least Rs 14,980 to bid in this Bajaj IPO. Retail investors will be able to invest a maximum of 13 lots or Rs 1 lakh 94 thousand 740.
This is how big is Bajaj’s latest IPO
The total size of this IPO is Rs 6,560 crore. It includes a fresh issue of shares worth Rs 3,560 crore and an offer for sale of Rs 3,000 crore. This Bajaj IPO will open for subscription on September 9, while bidding can be done till September 11. Shares will be credited to the investors’ account on September 13. The listing of shares on the market will be on September 16.
This is what Bajaj Housing Finance does
Bajaj Housing Finance is an HFC i.e. Housing Finance Company, which is registered with the National Housing Bank since 2015. The company provides finance services in the housing sector. Its products include financial solutions for purchasing or renovating residential or commercial properties.
So much share for retail investors
50% of the IPO is reserved for QIBs and 15% for NIIs. 35% of the IPO will be available for retail investors. Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities have been appointed as book-running lead managers for the IPO.
Also read: Bajaj Twins shares rise sharply before Bajaj Housing Finance IPO opens, has given multibagger returns to investors
