Bajaj Finance shares gain after Bajaj Housing Finance approves plan to raise Rs 4,000 crore via IPO

Bajaj Housing Finance IPO size, Bajaj Finance share price: Bajaj Finance shares advanced on Friday, June 7 after the board of Bajaj Housing Finance on Thursday approved a proposal to float an initial public offer (IPO). The IPO will comprise a fresh issuance of shares worth Rs 4,000 crore and an offer for sale (OFS) of equity shares subject to market conditions. Bajaj Finance shares rose 1.15 per cent to the day's high of Rs 7,006 on NSE in opening deals, extending gains for the third straight session.

The IPO will be subject to market conditions, approvals and regulatory clearances, Bajaj Housing Finance said. 

Bajaj Housing Finance is a subsidiary of Pune-headquartered non-banking financial company Bajaj Finance. 

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Bajaj Finance on Thursday reported a consolidated net profit of Rs 3,824.5 crore for the quarter ended March 31, marking a year-on-year increase of 21.1 per cent that was better than analysts' expectations.

The non-banking financial company (NBFC) registered 28.1 per cent growth in net interest income (NII), a key measure of a lender's revenue, to Rs 8,013 crore for the fourth and final quarter of the financial year 2023-24, according to a regulatory filing. Read more 

(This story will be updated shortly.)

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