In a crucial move for financial markets, Bajaj Housing Finance is preparing to launch its initial public offering (IPO) on September 9, 2024, with the aim of raising a substantial Rs 6,560 crore. The IPO, which will close on September 11, 2024, includes a fresh issue of Rs 3,560 crore and an offer for sale (OFS) of Rs 3,000 crore.

Key details of the IPO<o:p></o:p>

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IPO Dates: The IPO will open on September 9, 2024, and close on September 11, 2024.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Price Band: The IPO price band is expected to be announced on September 3, while the anchor portion will be allocated on September 6.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reservation for Shareholders: A specific reservation of Rs 500 crore has been made for shareholders, allowing them to participate in the offering.

What is the purpose of the Initial Public Offering?<o:p></o:p>

The funds raised from the fresh issue will be used to enhance the capital base of Bajaj Housing Finance, a subsidiary of Bajaj Finance, thereby supporting its growth and expansion initiatives. This move comes after a considerable period since the last major IPO from the Bajaj Group.

History of the Bajaj Group<o:p></o:p>

Bajaj Group is an Indian multinational conglomerate founded by Jamnalal Bajaj in Mumbai in 1926. The group comprises 40 companies and its flagship company Bajaj Auto is ranked as the world's fourth largest two- and three-wheeler manufacturer. The group has involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. 

Details of Bajaj Housing Finance

Bajaj Housing Finance is a 100 per cent subsidiary of Bajaj Finance, with Bajaj Finserv holding a 51.34 per cent stake in Bajaj Finance. The company had filed papers with the capital markets regulator SEBI, as per a report detailed by CNBC-TV18 on June 8.

The book-running lead managers for the issue include Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd.

This IPO marks a significant step for Bajaj Housing Finance as it seeks to bolster its financial position and drive future growth. Investors and market watchers are eagerly anticipating the details of the price band and the overall market response to this major offering.

In a crucial move for financial markets, Bajaj Housing Finance is preparing to launch its initial public offering (IPO) on September 9, 2024, with the aim of raising a substantial Rs 6,560 crore.

In a crucial move for financial markets, Bajaj Housing Finance is preparing to launch its initial public offering (IPO) on September 9, 2024, with the aim of raising a substantial Rs 6,560 crore. The IPO, which will close on September 11, 2024, includes a fresh issue of Rs 3,560 crore and an offer for sale (OFS) of Rs 3,000 crore. Key details of the IPO · IPO Dates: The IPO will open on September 9, 2024, and close on September 11, 2024. · Price Band: The IPO price band is expected to be announced on September 3, while the anchor portion will be allocated on September 6. · Reservation for Shareholders: A specific reservation of Rs 500 crore has been made for shareholders, allowing them to participate in the offering. What is the purpose of the Initial Public Offering? The funds raised from the fresh issue will be used to enhance the capital base of Bajaj Housing Finance, a subsidiary of Bajaj Finance, thereby supporting its growth and expansion initiatives. This move comes after a considerable period since the last major IPO from the Bajaj Group. History of the Bajaj Group Bajaj Group is an Indian multinational conglomerate founded by Jamnalal Bajaj in Mumbai in 1926. The group comprises 40 companies and its flagship company Bajaj Auto is ranked as the world's fourth largest two- and three-wheeler manufacturer. The group has involvement in various industries that include automobiles (2- and 3-wheelers), home appliances, lighting, iron and steel, insurance, travel and finance. Details of Bajaj Housing Finance Bajaj Housing Finance is a 100 per cent subsidiary of Bajaj Finance, with Bajaj Finserv holding a 51.34 per cent stake in Bajaj Finance. The company had filed papers with the capital markets regulator SEBI, as per a report detailed by CNBC-TV18 on June 8. The book-running lead managers for the issue include Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, and JM Financial Ltd. This IPO marks a significant step for Bajaj Housing Finance as it seeks to bolster its financial position and drive future growth. Investors and market watchers are eagerly anticipating the details of the price band and the overall market response to this major offering.

Bajaj Housing Finance set to launch IPO on September 9 to raise Rs 6,560 crore

Rahul Bajaj, former chairman of the Bajaj Group, died in India's western Pune city on Saturday. He was 83.

Bajaj had been admitted to the Ruby Hall Clinic hospital in Pune. He had pneumonia and a heart problem.

Dr Parvez Grant, chief cardiologist and managing trustee of Ruby Hall Clinic, said he was admitted to the hospital for the last one month.

"He died due to age-related and heart- and lung-related ailments," Grant added.&nbsp;

He died around 2.30 pm, the official said. The last rites will be held on Sunday.

Bajaj is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj; and daughter Sunaina Kejriwal.

"It is with deep sorrow that I inform you about the passing away of Shri Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv/Deepa, Sanjiv/Shefali and Sunaina/Manish. He passed away on the afternoon of February 12, 2022, in the presence of his closest family members," a statement from Bajaj Group read.

He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year.

Rahul Bajaj was awarded India's third-highest civilian award Padma Bhushan in 2001. Bajaj also served as an MP in Rajya Sabha, India's upper house.

Till February 2021, Rahul Bajaj was ranked 421 on the Forbes list of the world's billionaires with a net worth of USD 8.2 billion.

Reacting to Bajaj's demise, Indian politicians and ministers paid tributes to the celebrated entrepreneur.

Union Minister of Road Transport and Highways Nitin Gadkari said, "My heartfelt tributes to Rahul Bajaj ji, a successful entrepreneur, philanthropist and former chairman of Bajaj. I have had a personal relationship with Padma Bhushan awardee Rahul ji for many years."

Maharashtra Cabinet minister Nawab Malik said, "Grieved to learn about the demise of Rahul Bajaj Ji, chairperson of Bajaj Group. Condolences and strength to his family and close ones."

Nationalist Congress Party chief Sharad Pawar said he lost a close friend, while the country lost an industrialist, a philanthropist and a lighthouse for young entrepreneurs.&nbsp;

"I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology - a Bajaj Bike!

“The affordable vehicle increased mobility, eased struggle for getting means of livelihood and became the tool of socio-economic change! We Indians are deeply indebted for his immense contribution to the industry,” Pawar further wrote on Twitter.

(With inputs from agencies)

Rahul Bajaj, former chairman of the Bajaj Group, died in India's western Pune city on Saturday. He was 83. Bajaj had been admitted to the Ruby Hall Clinic hospital in Pune.

Rahul Bajaj, former chairman of the Bajaj Group, died in India's western Pune city on Saturday. He was 83. Bajaj had been admitted to the Ruby Hall Clinic hospital in Pune. He had pneumonia and a heart problem. Dr Parvez Grant, chief cardiologist and managing trustee of Ruby Hall Clinic, said he was admitted to the hospital for the last one month. "He died due to age-related and heart- and lung-related ailments," Grant added. He died around 2.30 pm, the official said. The last rites will be held on Sunday. Bajaj is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj; and daughter Sunaina Kejriwal. "It is with deep sorrow that I inform you about the passing away of Shri Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv/Deepa, Sanjiv/Shefali and Sunaina/Manish. He passed away on the afternoon of February 12, 2022, in the presence of his closest family members," a statement from Bajaj Group read. He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year. Rahul Bajaj was awarded India's third-highest civilian award Padma Bhushan in 2001. Bajaj also served as an MP in Rajya Sabha, India's upper house. Till February 2021, Rahul Bajaj was ranked 421 on the Forbes list of the world's billionaires with a net worth of USD 8.2 billion. Reacting to Bajaj's demise, Indian politicians and ministers paid tributes to the celebrated entrepreneur. Union Minister of Road Transport and Highways Nitin Gadkari said, "My heartfelt tributes to Rahul Bajaj ji, a successful entrepreneur, philanthropist and former chairman of Bajaj. I have had a personal relationship with Padma Bhushan awardee Rahul ji for many years." Maharashtra Cabinet minister Nawab Malik said, "Grieved to learn about the demise of Rahul Bajaj Ji, chairperson of Bajaj Group. Condolences and strength to his family and close ones." Nationalist Congress Party chief Sharad Pawar said he lost a close friend, while the country lost an industrialist, a philanthropist and a lighthouse for young entrepreneurs. "I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology - a Bajaj Bike! “The affordable vehicle increased mobility, eased struggle for getting means of livelihood and became the tool of socio-economic change! We Indians are deeply indebted for his immense contribution to the industry,” Pawar further wrote on Twitter. (With inputs from agencies)

Industrialist Rahul Bajaj, former chairman of Bajaj Group, passes away

bajaj-group

Bajaj Group, News on Bajaj Group, stories on Bajaj Group, articles on Bajaj Group, Bajaj Group stories at Wion, Bajaj Group news, Bajaj Group latest news

bajaj group

Bajaj Housing Finance set to launch IPO on September 9 to raise Rs 6,560 crore

Industrialist Rahul Bajaj, former chairman of Bajaj Group, passes away