Bajaj Housing Finance Company, initially planning an IPO on September 9 to raise Rs 7,000 crore, has revised its target to Rs 6,560 crore. The company has set the share price range between Rs 66 and Rs 70. This IPO marks the first for the Bajaj Group since 2008, when Bajaj Finance Division was listed. Founded in 1926, Bajaj Finance went public in 2008, and Bajaj Auto, launched in 1994, has since become the world’s most profitable two-wheeler manufacturer.
Bajaj Housing Finance, which is registered with SEBI, will conduct the share sale on a promoter basis, with a portion of the sale amounting to Rs 3,000 crore. The auction will take place from September 6 to September 11. Of the total shares, Rs 200 crore worth are reserved for Bajaj Finance employees, and Rs 500 crore worth are allocated for Bajaj Finserv employees.