Bajaj Housing Finance IPO
Bajaj Housing Finance IPO will open on 9th September, 2024. The IPO will close on 11th September, 2024. Price band of the IPO is Rs 66 - Rs 70 per share. Lot size is 214 shares. Investors can apply in lot size of 214 shares and in multiples thereof. So the minimum number of shares for which you can apply is 214 shares. The minimum investment required for applying for this IPO is Rs 14,980.
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IPO Opens: 9th September, 2024 |
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IPO Closes: 11th September, 2024 |
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Price Band: Rs 66 - 70 per share |
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Minimum bid size: 214 shares |
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Minimum investment required:Rs 14,980 |
Bajaj Housing Finance is currently the second largest housing finance company in India
Bajaj Housing finance is in the business of providing home loans and commercial property loans to its customers. It is among the largest home loan financing companies in India. It is part of the Bajaj group.
Its gross non-performing assets (NPAs) ratio at the time of filing of its IPO prospectus stood at 0.27%. Its net non-performing assets ratio at the time stood at 0.10%. The company has claimed that its non performing assets ratio is currently the lowest in the housing finance industry in India. Non-performing assets are loans on which the dues have not been paid for more than 90 days past the due date.
Average size of home loans given by Bajaj Housing Finance currently is Rs 4.6 million or Rs 46 lakhs. 87.5% of home loans given by it are to salaried customers. Total assets under management (loans given) of the company as on 31st March, 2024 stood at Rs 91.3 thousand crore. The company has 215 branches. Total number of employees in the company currently stands at 2,372.
Return on Equity in FY 24 at around 15.2%
Its profit after tax in FY 24 stood at Rs 1,713 crore. This was a year-on-year (y-o-y) growth of 37% in its net profit, over that in FY 23. Net interest margin of the company currently is around 4.1%. Net interest margin is the difference between the interest that it charges from its borrowers and the interest that it pays on its own borrowings.
Besides home loans, Bajaj Housing Finance gives Loans against property (LAP), commercial property loans and developer loans. But the bulk of its loans have been given to retail home loan customers.
Return on Equity (ROE) of the company in FY 24 stood at 15.2% in FY 23 it was 14.6% in FY 22 it was 11.1%. Return on Equity is a measure of the wealth created by the company for its shareholders. It is the ratio of net profit of the company to its total equity capital. A higher ROE means that the company has created more wealth for its shareholders, and vice-versa.
The average interest rate or yield on the loans that are in its portfolio stood at 10.2% in FY 24. In FY 23 it stood at 9.7%. In FY 22 it stood at 8.7%. Leverage used by the company stood at 6.7 times in FY 24; 6.2 times in FY 23; and 7.2 times in FY 22.
Opportunities
The opportunities for growth in the foreseeable future, before Bajaj Housing Finance are:
Strengths of the company
Apply for Bajaj Housing Finance IPO in 5 minutes through HDFC Sky
It will not take more than 5 minutes for you to apply for this IPO through the HDFC Sky platform.
1. Log in to your HDFC Sky app or platform
2. Go to profile > Indian stocks > IPO
3. Select IPO, then click Apply Now
4. Add bid size, and customize
5. Proceed to pay in just one click by paying through UPI
Conclusion
HDFC Sky is the most convenient way to invest in Bajaj Housing Finance IPO. You can apply for this IPO both through HDFC Sky app and the web platform of the company. You can download the HDFC Sky app from Google Play store or iPhone app store. You can go to the HDFC Sky web platform, by clicking on this link : https://hdfcsky.com/.
