Bajaj Housing Mandatory Listing: Board Meeting On April 24
During this meeting, the board will undertake discussions regarding various options available based on prevailing market conditions
Bajaj Finance Ltd.'s subsidiary Bajaj Housing Finance Ltd. is required to list by September 30, 2025. The Board of Directors of the company will convene for a meeting scheduled on April 24, 2024, to deliberate on the mandatory listing requirement, according to the exchange filing.
During this meeting, the board will undertake discussions regarding various options available based on prevailing market conditions, the April 6 filing added.
Reserve Bank Of India has classified Bajaj Housing Finance as an NBFC – Upper Layer. "Accordingly, pursuant to the applicable regulatory framework, the company is required to be mandatorily listed on or before September 30, 2025", the filing said.
Of the 16 upper-layer NBFCs notified in September 2022 by the RBI, Bajaj Housing Finance is one. According to the regulator's norms, it needs to be listed by 2025.
NDTV Profit previously reported Bajaj Housing Finance is preparing for an initial public offering, according to people who are aware of the matter.
Based on current discussions, Bajaj Housing Finance is expecting a valuation of around $10 billion. The tentative size of the IPO is expected to be around $1 billion, the people added.
On the NSE, shares of the company end 1.29% lower on Friday at Rs 7,189.65 compared to a 0.04% higher in the benchmark Nifty 50.