Non-banking finance company (NBFC) Bajaj Finance will sell ₹3,000 crore shares of its housing finance subsidiary, Bajaj Housing Finance in its upcoming initial public offering (IPO).
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“This will be subject to market conditions, receipt of applicable approvals including that of the Securities and Exchange Board of India (SEBI), the BSE Limited, the National Stock Exchange of India Limited and any other regulatory authority,” the company said in a regulatory filing on Friday, June 7.
ajaj Finance on June 6 announced that Bajaj Housing Finance’s board has approved an IPO with a fresh issue of shares to raise up to ₹4,000 crore.
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The plan entails raising ₹4,000 crore through a combination of fresh issue and an offer-for-sale (OFS) component. The IPO will involve the sale of shares by existing shareholders.
Bajaj Housing Finance is a 100% subsidiary of Bajaj Finance.
Bajaj Finserv holds a 51.34% stake in Bajaj Finance.
Shares of Bajaj Finance were trading 4.20% higher at ₹7,217 per share on the NSE during Friday’s afternoon deals.
