Bajaj Housing Finance (BHFL) is gearing up to enhance its capital base with a new fundraising initiative, aiming to raise Rs 6,560 crore through a mix of fresh issue of shares and an offer for sale. This move is a strategic effort by the country’s second-largest mortgage lender to tap into the growing demand for housing loans. Bajaj Finance, the sole owner, plans to reduce its holding to 88.7% by offloading a 11.3% stake, the news outlet The Economic Times reported.
The proceeds from the share issuance, totaling Rs 3,560 crore, will be used to expand BHFL’s lending capabilities, while the remaining Rs 3,000 crore will be raised through the sale of existing shares. Since its inception in 2018, BHFL has demonstrated impressive growth and maintained high asset quality, positioning itself to benefit significantly from the increasing mortgage demand in India.
