THE Bajaj Group, which is entering the primary capital markets with a bumper offer of ₹7,000 crore after nearly two decades, is set to shake up the industry that has been going through dull moments since the exit of the industry leader HDFC last July from the scene following its reverse merger with its sibling commercial bank, according to analysts.
Bajaja Housing is entering a universe, which is dominated by Indiabulls Housing Finance, LIC Housing Finance, Piramal Capital and Housing Finance, PNB Housing Finance in the pecking order of average AUMS for FY22 and FY23 with over 50,000 crore. Bajaj Housing is already in the upper layer of this.
As per the investment bankers who are not working on the issue, Bajaj Housing Finance is likely looking at a valuation of a $10 billion, which would make it the largest in the cluttered industry. According to an analyst, the Pune-based company whose sister concerns Bajaj Auto and Bajaj Capital lead the industry in terms of price-to-earnings ratios and are the most profitable in these terms. Bajaj Auto, in fact, is the most profitable auto company in the world in terms PE ratios.
The same analysts pegs Bajaj Housing to ask for a price band of whopping 830-844 per share or a market capitalisation of about ₹50,000 crore on listing. Parent Bajaj Finance has a market capitalisation of ₹5 trillion (5 lakh cr), and Bajaj Housing's valuation represents about 10% of that. Even if Bajaj Housing was to exceed expectations by 50% on listing, it will translate into just about a 5% upside to Bajaj Finance's valuation.
Denne historien er fra June 16, 2024-utgaven av The New Indian Express.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra June 16, 2024-utgaven av The New Indian Express.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
"The worlds of Marmadesam and Aindham Vedham are similar
NOT long before the 1000-episode Tamil television serials, a novel concept with a riveting treatment got encapsulated in just 80-100 episodes with Marmadesam.
JOHN WICK ANIME FILM IN THE WORKS
AN anime feature film based on the action franchise John Wick, which stars Keanu Reeves as the titular character, is in development.
Chellamae-fame Gandhi Krishna's next titled Break Fast
Gandhi Krishna, known for helming films like Nila Kaalam (2001), Chellamae (2004), and Anandha Thandavam (2009), returns to direction after 14 years for Break Fast.
A SOLDIER'S LIFE
Director Rajkumar Periasamy speaks about his upcoming Sivakarthikeyan-Sai Pallavi-starrer Amaran, bringing Major Mukund Varadarajan’s life to screen, the help from the Ministry of Defence, and more
REFLECTIONS & RESPONSIBILITIES
The seven-day cultural festival Vaazhiya Vayigham, revolving around the theme of protecting the Earth, nudges people to introspect while the performances pay tribute to the planet
CALLOUS COMMENTS AND POLITICAL PROPAGANDA
Contrary to national population control campaigns of several decades, including ones that he supported, Andhra Pradesh Chief Minister N Chandrababu Naidu recently stated that couples should be encouraged to have more than two children, in order to stabilise population growth in the state.
A HEALTHCARE PAW-TNER
Whenever Vivek Srinivas P returned home after a long trip, he would find his dog, Bruno, sick.
Mission accomplished
WHERE the clear sky meets the deep blue sea, soft waves cradle us as sunlight dances across the ocean, inviting us to swim.
SECRETS OF SUCCESS
After a few heartbreaking losses, long-term planning and adapting to conditions led to TN U19 women’s triumph
India looking to spin narrative
With Pune's bald black soil surface likely to aid spinners, hosts will be looking to adapt quickly and draw level in the series vs NZ