Bajaj Housing Finance Prepares For $6.94 Billion IPO

Bajaj Housing Finance Limited (BHFL), a leading housing finance company in India, is preparing for an initial public offering (IPO) that could raise up to $6.94 billion.

The proposed IPO, which would be one of the largest in India's history, comes as the company looks to expand its operations and take advantage of the growing demand for housing in the country.

According to sources familiar with the matter, BHFL plans to offer a mix of new and existing shares in the IPO.

The company is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in the coming weeks. The IPO is expected to be launched in the second half of 2023.

Bajaj Housing Finance is a subsidiary of Bajaj Finserv, a leading financial services company in India. The company offers a range of housing finance products, including home loans, loans against property, and construction finance.

BHFL has a strong track record of growth and profitability. In the fiscal year ended March 2023, the company reported a net profit of Rs. 5,417 crore ($700 million) on revenue of Rs. 24,685 crore ($3.2 billion).

The company's IPO is expected to generate strong interest from domestic and international investors. BHFL is a well-respected company with a strong brand name and a track record of success.

The IPO proceeds will be used to fund the company's growth plans. BHFL plans to use the funds to expand its operations in existing markets and enter new markets. The company also plans to use the funds to invest in technology and product development.

The BHFL IPO is expected to be a major event in the Indian capital markets. The IPO is expected to raise a substantial amount of capital for the company and provide investors with an opportunity to participate in the growth of one of India's leading housing finance companies.