Khaitan & Co Advised Book Running Lead Managers On Bajaj Housing Finance Ltd.'s ₹70 Billion IPO
Khaitan & Co Advised Book Running Lead Managers On Bajaj Housing Finance Ltd.'s ₹70 Billion IPO
Khaitan & Co has advised Book Running Lead Managers, including Kotak Mahindra Capital, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities, on the proposed Initial Public Offering (IPO) of Bajaj Housing Finance Limited aggregating to INR 70,000 million.
As a Non-Banking Financial Company (NBFC) and a subsidiary of Bajaj Finance, Bajaj Housing Finance aims to secure capital through a primary issue valued at ₹40 billion. The comprehensive public offering, aggregating up to ₹7,000 crores, comprises two components: a fresh issue of equity shares worth up to ₹4,000 crores and an offer for sale (OFS) amounting to ₹3,000 crores by the existing shareholder. The shares will have a face value of ₹10 each.
This IPO includes specific allocations for eligible employees and shareholders of the promoters, including individuals and Hindu Undivided Families (HUFs), who are public equity shareholders of the promoters.
Bajaj Housing Finance, specializing in Mortgage Lending, intends to utilize the funds from the fresh issue to bolster its capital base. This enhancement is aimed at meeting future capital requirements and supporting business development for onward lending.
The deal team at Khaitan & Co included Partner Abhimanyu Bhattacharya, Partner Thomas George, Counsel Nagashayana Srinivasaiah, Associate Aadhya Singh, Associate Pooja Agarwal, and Associate Mitluv Semwal.
