New Delhi, 9 September B rokerages are positive on the initial public offering (IPO) of Bajaj Housing Finance (BHFL), India's second-largest housing finance company and a whollyowned subsidiary of Bajaj Finance.
The ₹6,560 crore IPO opened for public subscription on Monday and will close on Wednesday. Bajaj Housing Finance seeks to utilise the net proceeds from the fresh issue of the IPO towards augmenting its capital base to meet future business requirements, including onward lending.
Deven Choksey Research remains optimistic about Bajaj Housing Finance's outlook due to its substantial brand equity, strategic business expansion plans, extensive geographic coverage, and enhanced technological infrastructure through its omnichannel approach.
"These factors are expected to improve operational efficiency and maintain favourable credit costs, supported by superior asset quality," says the brokerage.
At the upper end of the price band, the housing finance company's price-to-book value multiple stands at 3.2 times the post-IPO book value of ₹21.9 per share as of June 30, 2024, which is reasonable compared to its peers, say analysts at the brokerage.
Bu hikaye Business Standard dergisinin September 10, 2024 sayısından alınmıştır.
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Bu hikaye Business Standard dergisinin September 10, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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