Bajaj Housing Finance Issue Opens Today Gmp Signals 73 Upside

## Bajaj Housing Finance Issue Opens Today; GMP Signals 73% Upside **Mumbai, December 01** Bajaj Housing Finance Limited (BHFL), one of the leading housing finance companies in India, is all set to open its initial public offering (IPO) for subscription today. The issue will close on December 3, 2022. The company plans to raise Rs. 5,450 crore through the issue, which will comprise of a fresh issue of equity shares worth Rs. 2,250 crore and an offer for sale (OFS) of 38,014,270 equity shares by existing shareholders. The price band for the issue has been fixed at Rs. 2,150-2,200 per share. The issue has received a strong response from investors, with the grey market premium (GMP) indicating a strong upside of 73%. This means that the shares are expected to list at a premium of Rs. 1,570-1,600 over the issue price. The strong demand for the issue can be attributed to several factors, including the company's strong track record, its focus on the affordable housing segment, and its experienced management team. BHFL is one of the largest housing finance companies in India, with a loan book of over Rs. 1 lakh crore. The company has a strong focus on the affordable housing segment, which has a large potential market in India. BHFL also has a strong management team, led by CEO Mr. Devang Mody, who has over 25 years of experience in the financial services industry. **Company Background**: Bajaj Housing Finance is a leading housing finance company in India with a strong track record and a focus on the affordable housing segment. The company has a well-experienced management team and is well-positioned to benefit from the growing demand for housing in India. **Key Financials**: The company has consistently delivered strong financial performance, with a revenue of Rs. 7,442 crore and a net profit of Rs. 3,446 crore in the fiscal year 2022. The company's loan book has also grown at a healthy pace, reaching Rs. 1,00,852 crore as of March 31, 2022. **Key Risks**: The company faces competition from other housing finance companies and banks, which may impact its market share. The company also faces the risk of rising interest rates, which may impact its profitability. **Outlook**: The company has a strong market position and is well-positioned to benefit from the growing demand for housing in India. The company's focus on the affordable housing segment and its strong management team are key strengths that will drive its growth in the coming years. **Conclusion**: Bajaj Housing Finance is a strong company with a bright future. The company's strong track record, focus on the affordable housing segment, and experienced management team are key factors that will drive its growth in the coming years. The issue is attractively priced and is expected to have a strong listing premium.