Bajaj Housing Finance IPO Details, Financials, Valuation & Peers
Get everything you need to know about the Bajaj Housing Finance IPO. Explore Bajaj Housing Finance IPO details, including IPO dates, financial statements, valuation, peer comparison, and more.
Overview
Bajaj Housing Finance Limited is a non-deposit taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since September 24, 2015, and has been actively engaged in mortgage lending since Fiscal 2018. The company has been classified as an "Upper Layer" Non-Banking Financial Company (NBFC-UL) by the Reserve Bank of India (RBI) as part of its "Scale Based Regulations" framework. Bajaj Housing Finance offers a comprehensive suite of mortgage products, including home loans, loans against property (LAP), lease rental discounting, and developer financing. The company's primary focus is on individual retail housing loans, complemented by a diversified collection of lease rental discounting and developer loans, catering to various customer segments from individual homebuyers to large-scale developers.
Key Points:
- Offerings:
- Comprehensive mortgage product suite: home loans, loans against property (LAP), lease rental discounting, and developer financing.
- Primary emphasis on individual retail housing loans, with a diversified portfolio including lease rental discounting and developer loans.
- Market Position:
- Largest non-deposit taking HFC in India in terms of Assets Under Management (AUM) within seven years of commencing mortgage operations.
- Second largest HFC and eighth largest NBFC-UL in India with an AUM of ₹91,370.4 crore as of March 31, 2024.
- Consistent growth with a Compound Annual Growth Rate (CAGR) of 30.9% from Fiscal 2022 to 2024.
- Loan Portfolio:
- Focus on low-risk, fast-growing home loan customers.
- Home loans constituted 57.8% of AUM as of March 31, 2024, with 75.8% of home loan AUM from customers with a CIBIL score above 750.
- Average ticket size of home loans was ₹46 lakh, with an average loan-to-value ratio of 70.5%.
- Geographical Reach and Network:
- Network of 215 branches across 174 locations in 20 states and three union territories as of March 31, 2024.
- Centralized hubs for retail underwriting and loan processing support diversified reach across urban and upcountry locations.
- Credit Quality and Ratings:
- Lowest Gross Non-Performing Assets (GNPA) ratio of 0.27% and Net Non-Performing Assets (NNPA) ratio of 0.10% among large HFCs in India.
- Highest possible credit ratings for both long-term (CRISIL AAA/stable, IND AAA/stable) and short-term (CRISIL A1+, IND A1+) borrowing programs.
Objects of the Issue
- Augmenting the capital base to meet future business requirements of the Company towards onward lending
- To receive the benefits of listing of the Equity Shares on the Stock Exchanges
IPO Details
Discover essential information crucial for understanding an IPO, including the Price Band, Fresh Issue, Offer For Sale, Total IPO Size and more. Explore these key details to gain insight into the company's public offering.
| Fields | Details |
|---|---|
| IPO Dates | 09 Sep - 11 Sep 2024 |
| IPO Price Band | ₹66 - ₹70 per share |
| Fresh Issue | ₹3,560 crore |
| Offer For Sale | ₹3,000 crore |
| Total IPO Size | ₹6,560 crore |
| Face Value | ₹10 |
| Listing On | BSE, NSE |
IPO Timeline
Explore important dates like IPO opening, closing, listing and others, outlining the journey of the Public Offering. This will help you grasp the entire IPO journey effortlessly.
| Event | Date |
|---|---|
| IPO Opening Date | 09 Sep 2024 |
| IPO Closing Date | 11 Sep 2024 |
| Basis Of Allotment | 12 Sep 2024 |
| Refunds | 13 Sep 2024 |
| Demat Transfer | 13 Sep 2024 |
| IPO Listing Date | 16 Sep 2024 |
Financial Statements
Explore a comprehensive financial data table showcasing key metrics including revenue, expenses, net income, and others. Gain valuable insights about the company's financial performance at a glance, facilitating informed decision-making and strategic planning for subscribing to the IPO.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| Total Income | 3,767.13 | 5,665.44 | 7,617.71 | 2,208.73 |
| Total Expenses | 2,807.27 | 3,965.38 | 5,456.39 | 1,578.85 |
| Net Profit/Loss | 709.62 | 1,257.80 | 1,731.22 | 482.61 |
| NPM (*) | 18.84 | 22.20 | 22.73 | 21.85 |
| Total Assets | 48,527.08 | 64,654.14 | 81,827.09 | 88,538.83 |
| Total Liabilities | 41,785.72 | 54,150.95 | 69,593.59 | 73,818.92 |
* NPM represents the net profit margin, calculated as a percentage. All other figures are presented in crore (₹cr)
Valuation
Uncover significant valuation metrics such as EPS (Earnings Per Share), ROE (Return on Equity), ROCE (Return on Capital Employed), D/E Ratio (Debt-to-Equity Ratio), Current Ratio, and EBITDA Margin. These key indicators offer insights into the company's financial standing and performance, aiding in informed investment decisions.
| Period Ended | 31st March 2022 | 31st March 2023 | 31st March 2024 | Jun 2024 |
|---|---|---|---|---|
| EPS | 1.5 | 1.9 | 2.6 | 0.6 |
| ROE (%) | 11.1 | 14.6 | 15.2 | 14.3 |
| ROCE (%) | NA | NA | NA | NA |
| D/E Ratio | 6.2 | 5.1 | 5.7 | 5.0 |
| Current Ratio | NA | NA | NA | NA |
| EBITDA MARGIN (%) | NA | NA | NA | NA |
* Compiled from DRHP/RHP for valuation purposes.
Peer Comparison
Compare key financial metrics with industry peers to gain valuable insights into the company's performance compared to its competitors.
| Name | Total income | P/E | EPS | RoNW | NAV |
|---|---|---|---|---|---|
| Bajaj Housing Finance Limited | 7,617.71 | 26.92 | 2.6 | 15.2 | 18.2 |
| LIC Housing Finance Limited | 27,277.80 | 7.3 | 86.5 | 16.2 | 572.3 |
| PNB Housing Finance Limited | 7,057.09 | 12.4 | 58.2 | 11.6 | 576.6 |
| Can Fin Homes Limited | 3,524.69 | 12.9 | 56.4 | 18.8 | 326.2 |
| Aadhar Housing Finance | 2,586.98 | 18.7 | 18.4 | 18.4 | 104.3 |
| Aavas Financiers | 2,020.69 | 25.8 | 61.9 | 13.9 | 476.8 |
| Aptus Value Housing Finance | 1,416.84 | 24.6 | 12.2 | 17.2 | 75.5 |
| Home First Finance | 1,156.55 | 24.3 | 33.7 | 15.5 | 239.7 |
* Revenue in (₹cr), RoNW in (%), EPS, NAV in (₹). P/E ratio is based on the highest price from the IPO price band.
Subscription Data from NSE and BSE
| Investor Type | Subscribed |
|---|---|
| Qualified Institutional Buyer (QIB) | 222.05 |
| Non-Institutional Investor (NII/HNI) | 43.98 |
| Retail Individual Investor (RII) | 7.41 |
| Total | 67.43 |
* All figures represent multiples of the subscription. Check subscriptions for other ongoing issues here.
IPO Registrar
KFin Technologies Limited
Phone: +91 40 6716 2222/ 18003094001
Email: einward.ris@kfintech.com
Website: www.kfintech.com
Company Promoters
- BAJAJ FINANCE LIMITED
- BAJAJ FINSERV LIMITED
Lead Managers
- Kotak Mahindra Capital Company Limited
- BofA Securities India Limited
- Axis Capital Limited
- Goldman Sachs (India) Securities Private Limited
- SBI Capital Markets Limited
- JM Financial Limited
- IIFL Securities Limited
Company Address
Bajaj Housing Finance Limited
Bajaj Auto Limited Complex, MumbaiPune Road, Akurdi, Pune 411 035, Maharashtra, India
Phone: +91 20 71878060
Email: bhflinvestor.service@bajajfinserv.in
Website: www.bajajhousingfinance.in
FAQs
- What is the issue size of the Bajaj Housing Finance IPO?The Bajaj Housing Finance IPO has an issue size of ₹6,560 crore. This includes a fresh issue of ₹3,560 crore and an offer for sale (OFS) of ₹3,000 crore.
- What is the price band of the Bajaj Housing Finance IPO?The price band for the Bajaj Housing Finance IPO is ₹66 - ₹70 per share.
- What are the bidding dates for the Bajaj Housing Finance IPO?The Bajaj Housing Finance IPO will open for bidding on 09 Sep 2024 and close on 11 Sep 2024.
- What is the allotment date for the Bajaj Housing Finance IPO?The allotment date for the Bajaj Housing Finance IPO is 12 Sep 2024.
- What is the listing date for the Bajaj Housing Finance IPO?The listing date for the Bajaj Housing Finance IPO is 16 Sep 2024.
- What is the Bajaj Housing Finance IPO grey market premium?The grey market premium (GMP) for the Bajaj Housing Finance IPO is currently at ₹72, with an expected listing gain of approximately 102.86%. Remember, the grey market premium is not an official indicator, but it reflects market perception and demand for the IPO shares.