Bajaj Finance soars 4.5% as housing finance arm gears up for IPO

Moneycontrol was the first to report that Bajaj Housing Finance was looking to grab a valuation of around $9 billion to $10 billion through its IPO.

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Shares of Bajaj Finance surged 4.5 percent on March 28 following reports that subsidiary Bajaj Housing Finance was planning to go public, with a valuation $9-10 billion.

Shares of parent Bajaj Finance emerged top gainer on the Nifty 50, contributing 17.52 points in the index’s 236.75-point swing. At 11.23am, the Bajaj Finance stock were trading at Rs 7,299.30.

Moneycontrol was the first to report earlier on March 28 that Bajaj Housing Finance has initiated preliminary talks with several investment banks about a potential initial public offering, looking to grab a valuation of $9-10 billion to comply with the regulatory guidelines.

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The move is aimed at meeting the RBI’s mandatory requirement for “upper layer” NBFCs to list within three years of being notified. According to the current regulatory timeline laid out by the RBI, Bajaj Housing Finance has to list by September 2025.

However, sources contacted by Moneycontrol also stated that these are early days, with the firm is planning to raise $900 million to $1 billion through the proposed IPO, keeping the minimum dilution and expected valuation range in mind.

Also Read | Bajaj Finance arm Bajaj Housing Finance starts preparation for IPO targeting $9-10 billion valuation

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