Bajaj Housing Fin.

Corrects bids received from institutional buyers to $25 billion from $2.5 billion in paragraph 5

By Vivek Kumar M

July 16 (Reuters) - India's SBI Funds Management drew bids worth 3 trillion Indian rupees ($31.14 billion), making the asset manager's $1.03 billion initial public offering (IPO) the country's fourth-most-subscribed issue.

The subscription numbers include $278.5 million raised from anchor investors, including BlackRock and sovereign wealth funds from Singapore, Abu Dhabi, and Norway.

The IPO, which closed on Thursday, marked a strong comeback for India's primary market after a subdued first half of the year. India is expected to see a busy pipeline of public offerings in the second half of the year, with mega listings from Reliance Jio and National Stock Exchange expected before the end of 2026.

SBI Funds Management, a joint venture between the country's largest lender State Bank of India (SBI) SBI.NS and Europe's biggest asset manager Amundi AMUN.PA, is India's largest asset manager, overseeing funds worth 12.5 trillion rupees ($131 billion) as of March 2026.

The demand for SBI Funds Management's shares was led by institutional investors, who bid for $25 billion worth of shares, 140 times the number of shares on offer for them, exchange data showed.

The portion set aside for retail investors and SBI's shareholders was subscribed 3.6 times and 9.5 times, respectively.

The stock is expected to begin trading on July 21.

SBI Funds' IPO stands behind public offerings of Reliance Power RPOL.NS, LG Electronics India LGEL.NS, and Bajaj Housing Finance BAJO.NS, in terms of quantum of bids received, data from PRIME Database showed.

The asset manager is well placed to capitalise on its market leadership, strong distribution network and robust profitability, analysts at Aditya Birla Money said in a note dated July 14.

So far this year, India has seen IPOs worth nearly $4 billion, sharply below last year's $21.8 billion. However, the activity is expected to pick up in the second half of 2026, with 251 companies planning to raise 4.93 trillion rupees ($51.7 billion) in the pipeline, as per PRIME Database.

"Heavy bidding (for SBI Funds IPO) signals that investors are willing to commit fresh capital to quality franchises, which can help revive sentiment for the upcoming (IPO) pipeline," said Dhiraj Relli, managing director and chief executive officer at HDFC Securities.

($1 = 96.3450 Indian rupees)

(Reporting by Vivek Kumar M; Editing by Alexandra Hudson)

(([email protected];))

MUMBAI, July 6 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepts bids worth 15 billion rupees ($157.17 million) for the sale of bonds maturing in three years and three months, three bankers said on Monday.

It will pay a coupon of 7.53%, and had invited commitment bids for the issue earlier in the day, they said.

Bajaj Housing did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 6:

*Size includes base plus greenshoe for some issues

($1 = 95.4400 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

MUMBAI, July 3 (Reuters) - India's Bajaj Housing Finance plans to raise up to 15 billion rupees ($157.55 million), including a greenshoe option of 10 billion rupees, through the sale of bonds maturing in three years and three months, three bankers said on Friday.

It has invited coupon and commitment bids for the issue on Monday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 3:

*Size includes base plus greenshoe for some issues

($1 = 95.2100 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

MUMBAI, July 1 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepts bids worth 25 billion rupees ($263.63 million) in a sale of bonds maturing in four years, three bankers said on Wednesday.

It will pay a coupon of 7.64%, and had invited commitment bids for the issue on Tuesday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on July 1:

* Size includes base plus greenshoe for some issues

($1 = 94.8300 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

MUMBAI, June 29 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise up to 25 billion rupees ($264.91 million), including a greenshoe option of 20 billion rupees, by selling bonds maturing in four years, three bankers said on Monday.

It has invited coupon and commitment bids for the issue on Tuesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 29:

*Size includes base plus greenshoe for some issues

($1 = 94.3700 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Eileen Soreng)

(([email protected], [email protected]))

MUMBAI, June 17 (Reuters) - India's Bajaj Finance BJFN.NS accepted bids worth 13.90 billion rupees ($147.28 million) for the reissue of 7.07% September 2028 bonds, three bankers said on Wednesday.

It will offer a yield of 7.80% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 17:

*Size includes base plus greenshoe for some issues

($1 = 94.3775 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair)

(([email protected], [email protected]))

MUMBAI, June 12 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepted bids up to 20 billion rupees ($210.3 million) for the reissue of 8.25% May 2031 bonds, three bankers said on Friday.

It will pay a coupon of 7.95% and had invited commitment bids for the issue on Thursday, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 12:

*Size includes base plus greenshoe for some issues

($1 = 95.1225 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected], [email protected]))

By Dharamraj Dhutia

MUMBAI, June 11 (Reuters) - Indian companies are rushing to raise short-term debt after the central bank's measures to support the rupee triggered a sharp fall in borrowing costs, four merchant bankers said.

Companies, led by non-banking financial firms, are raising more than 310 billion rupees ($3.24 billion) through up to five-year bonds this week, the bankers said. The supply is one-third of what was raised in April and May, according to Reuters data.

The Reserve Bank of India on Friday announced a raft of measures aimed at drawing dollars into the country, including raising subsidised deposits and incentivising banks and state-run companies to raise funds overseas.

This has pushed corporate borrowing costs lower by 40-45 basis points, per LSEG benchmark 'AAA'-rated corporate bond yields of up to five years, while the spread over government bonds has narrowed.

Corporate bond yields had risen to their highest in seven years in May.

A rise in overseas borrowings could reduce the need for local debt supply, leading to a rally in bonds below five years, said Ajay Marwaha, head of fixed income markets at global wealth firm Nuvama.

State-run REC raised three-year funds at a coupon of 7.34% earlier this week, much lower than prevailing levels in the secondary market. NABARD, another state-run financial institution, raised funds for three years at 7.34% after cancelling a similar issue in May where rates could have touched nearly 8%.

Other major non-bank lenders lining up debt sales include Bajaj Finance BJFN.NS, Muthoot Finance MUTT.NS, Bajaj Housing Finance BAJO.NS and L&T Finance LTFL.NS, with planned issuances of 85 billion rupees, 27.5 billion rupees, 20 billion rupees and 15 billion rupees, respectively.

Despite the recent rally in bonds, investor appetite remains strong on expectations of further gains.

"Investors with a more than 18-month investment horizon are looking at corporate bond funds that present an attractive investment opportunity from a relative risk-reward perspective," said Puneet Pal, head of fixed income at PGIM India Asset Management.

($1 = 95.6950 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected];))

MUMBAI, June 10 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise up to 20 billion rupees ($209.94 million), including a greenshoe option of 15 billion rupees, through the reissue of 8.25% May 2031 bonds, three bankers said on Wednesday.

It has invited coupon and commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on June 10:

*Size includes base plus greenshoe for some issues

($1 = 95.2650 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected]))

MUMBAI, May 26 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 20 billion Indian rupees ($209.03 million) for bonds maturing in five years, three bankers said on Tuesday.

It will pay an annual coupon of 8.25% and had invited bids for the issue earlier in the day, they said.

Bajaj Housing Finance did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 26:

* Size includes base plus greenshoe for some issues

*Size includes base plus greenshoe for some issues

($1 = 95.6800 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Ronojoy Mazumdar)

(([email protected]))

MUMBAI, May 25 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 20 billion rupees ($209.61 million), including a greenshoe option of 15 billion rupees, by selling bonds maturing in five years, three bankers said on Monday.

The company has invited coupon and commitment bids from investors on Tuesday, they said.

Bajaj Housing Finance did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 25:

*Size includes base plus greenshoe for some issues

($1 = 95.4175 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair)

(([email protected], [email protected]))

MUMBAI, May 15 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepted bids worth 5 billion rupees ($52.1 million) in a sale of bonds maturing in three years, three bankers said on Friday.

The non-bank lender will pay a coupon of 7.83% and had invited commitment bids for the issue earlier in the day, they said.

The company did not respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 15:

*Size includes base plus greenshoe for some issues

($1 = 95.9650 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected], [email protected]))

MUMBAI, May 14 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise up to 10 billion rupees ($104.3 million), including a greenshoe option of 5 billion rupees, through the sale of bonds maturing in three years, three bankers said on Thursday.

The non-bank lender has invited coupon and commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on May 14:

*Size includes base plus greenshoe for some issues

($1 = 95.8700 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected], [email protected]))

Rewrites throughout, adds details

BENGALURU, April 27 (Reuters) - Indian non-bank lender Bajaj Housing Finance BAJO.NS reported a 14% rise in quarterly profit on Monday, as strong loan growth helped offset narrowing margins competition in the home-loan market intensifying.

Credit demand in India gained momentum in the second half of the fiscal year that ended in March, as easing inflation and lower taxes supported household spending and corporate borrowing.

Bajaj Housing Finance, India's largest non-bank home loan financier by market value, has been expanding its reach into near-prime and affordable home loan segments to diversify its loan portfolio and increase penetration nationwide.

The company's assets under management rose 23% year-on-year to 1.41 trillion rupees ($14.97 billion) for the quarter ended March 31, with loan disbursements also jumping 23% to 175.06 billion rupees.

Net interest income - the difference between interest earned and paid - fell to 9.45 billion rupees from 9.63 billion rupees in the preceding quarter, even as loan assets expanded 5.5% sequentially, underscoring the margin compression playing out across the housing finance sector.

The company's portfolio yield - the weighted average return on the loan book - stood at 9.1% in the March quarter, down from 9.7% a year earlier, as competitive pressure from banks pushed home loan pricing lower.

The gross spread - the difference between the portfolio yield and the cost of funds, a key measure of lending profitability - narrowed to 3% from 3.2% in the preceding quarter, as lower rates are typically transmitted faster to lending rates than to borrowing costs.

Bajaj Housing Finance's net interest margin slipped to 3.8% from 4% in the previous quarter.

Asset quality was largely stable, with gross bad loans as a percentage of total loans holding at 0.27% at the end of March, unchanged from three months earlier.

Profit rose to 6.69 billion rupees from 5.87 billion in the same quarter last year.

The firm's lease rental discounting portfolio, backed by commercial rental income, emerged as the fastest-growing segment, surging 44% year-on-year and accounting for nearly one-fourth of total assets.

($1 = 94.1900 Indian rupees)

(Reporting by Pranav Kashyap in Bengaluru; Editing by Rashmi Aich and Mrigank Dhaniwala)

(([email protected]; +919886482111;))

MUMBAI, April 15 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion rupees ($107.05 million), including a greenshoe option of 5 billion rupees, through the reissue of 7.25% January 2029 bonds, three bankers said on Wednesday.

It has invited commitment bids for the issue on Thursday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on April 15:

*Size includes base plus greenshoe for some issues

($1 = 93.4170 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

(([email protected], [email protected]))

April 3 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• AUM GREW 23% Y/Y AS OF 31 MARCH 2026

• Q4 GROSS DISBURSEMENT AT ABOUT 175.30 BILLION RUPEES

Source text: ID:nNSELJ4CF

Further company coverage: BAJO.NS

(([email protected];;))

MUMBAI, Feb 27 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 5 billion rupees ($54.97 million) via the reissue of 7.25% January 2029 bonds, three bankers said on Friday.

The company will offer a yield of 7.27% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 27:

*Size includes base plus greenshoe for some issues

($1 = 90.9590 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, Feb 26 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 15 billion rupees ($165 million) through the reissue of 7.25% January 2029 bonds, three bankers said on Thursday.

It has invited commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 26:

*Size includes base plus greenshoe for some issues

($1 = 90.8970 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Sonia Cheema)

(([email protected]))

MUMBAI, Feb 18 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepted bids worth 10 billion rupees ($110.28 million) for the reissue of 7.10% October 2028 bonds, three bankers said on Wednesday.

It will offer a yield of 7.29% and had invited commitment bids for the issue earlier in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on February 18:

*Size includes base plus greenshoe for some issues

($1 = 90.6770 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Harikrishnan Nair)

(([email protected], [email protected]))

Feb 2 (Reuters) - India's Bajaj Housing Finance BAJO.NS reported a rise in quarterly profit growth on Monday, helped by steady loan growth despite higher competition from banks.

The country's biggest non-bank home loan financier by market value reported a 21% rise in third-quarter profit to 6.65 billion Indian rupees ($72.63 million) for the three months ended December 31, higher than the 18% growth in the preceding quarter.

The pace of profit growth was somewhat slower compared to the 25% registered in the same quarter last year.

The premium housing segment is seeing stiff competition in the last few months as banks have started offering home loans at lower rates than non-banking finance companies (NBFC).

Bajaj Housing Finance in November had said to sustain its growth it will continue to push forward in the home loans segment despite rising competition by expanding its reach across markets and customer segments. In July, the lender had forecast loan growth at 21-23% for the current financial year, compared to 26% last fiscal.

The company's assets under management rose 23% year-on-year to 1.33 trillion rupees for the quarter ended December 31.

Net interest income, the difference between interest earned and paid, rose 19% to 9.63 billion rupees.

Asset quality was largely stable, with gross bad loans as a percentage of total loans at 0.27% at the end of December, from 0.26% three months earlier and 0.29% in the same period a year ago.

The company's shares ended flat ahead of the results.

($1 = 91.5540 Indian rupees)

(Reporting by Nishit Navin; Editing by Ronojoy Mazumdar)

(([email protected];))

MUMBAI, Jan 21 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 25 billion rupees ($273.67 million), including a greenshoe option of 20 billion rupees, through the sale of bonds maturing in three years, three bankers said on Wednesday.

It has invited coupon and commitment bids for the issue later in the day, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on January 21:

*Size includes base plus greenshoe for some issues

($1 = 91.3500 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra)

(([email protected], [email protected]))

MUMBAI, Jan 8 (Reuters) - India's Bajaj Housing Finance BAJO.NS is set to raise 15 billion rupees ($166.60 million), including a greenshoe option of 10 billion rupees, through the reissue of 7.10% October 2028 bonds, three bankers said on Thursday.

It has invited coupon and commitment bids for the issue on Friday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on January 8:

*Size includes base plus greenshoe for some issues

($1 = 90.0375 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Janane Venkatraman)

(([email protected], [email protected]))

Dec 2 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• BAJAJ FINANCE - SOLD EQUITY SHARES OF BAJAJ HOUSING FINANCE LIMITED

• BAJAJ FINANCE - CONSIDERATION RECEIVED FROM SALE WAS 15.88 BILLION RUPEES

Source text: ID:nBSE56mSvX

Further company coverage: BAJO.NS

(([email protected];;))

MUMBAI, Nov 13 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 5 billion rupees ($56.9 million) for the reissue of 7.10% October 2028 bond, three bankers said on Thursday.

It will offer a yield of 6.95% on this issue and had invited bids on Wednesday, they said.

The company did not immediately respond to a Reuters email seeking comment.

Here is the list of deals reported so far on November 13:

*Size includes base plus greenshoe for some issues

($1 = 88.63 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)

(([email protected]))

MUMBAI, Oct 9 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion rupees ($112.7 million), which includes a greenshoe option of 5 billion rupees, through a sale of bonds maturing in two years and three months, two merchant bankers said on Thursday.

The company has invited bids from bankers and investors on Friday, the bankers said.

Bajaj Housing Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on October 9:

*Size includes base plus greenshoe for some issues

($1 = 88.7740 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra, Editing by Eileen Soreng)

(([email protected]))

Oct 3 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• COMPANY DISBURSES 159 BILLION RUPEES IN Q2 COMPARED TO 120.14 BILLION RUPEES YEAR AGO

• BAJAJ HOUSING FINANCE LTD - AUM GROWS 24% TO 1.27 TRILLION RUPEES AS OF 30 SEPTEMBER 2025

• BAJAJ HOUSING FINANCE LTD - LOAN ASSETS AT 1.13 TRILLION RUPEES AS OF 30 SEPTEMBER 2025

Source text: ID:nNSE6k5qn5

Further company coverage: BAJO.NS

(([email protected];))

MUMBAI, Sept 12 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepted bids worth 10 billion rupees ($113.27 million) for bonds maturing in three years and one month, two merchant bankers said on Friday.

The company will pay a coupon of 7.10%, and had invited bids from bankers and investors earlier in the day, the bankers said.

Bajaj Housing Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on September 12:

*Size includes base plus greenshoe for some issues

($1 = 88.2840 Indian rupees)

(Reporting by Khushi Malhotra, Dharamraj Dhutia; Editing by Eileen Soreng)

(([email protected], [email protected]))

July 17 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• ALLOTTED NCDS AGGREGATING TO 10 BILLION RUPEES ON PRIVATE PLACEMENT BASIS

Source text: ID:nNSE78myvH

Further company coverage: BAJO.NS

(([email protected];;))

MUMBAI, July 15 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion rupees ($116.5 million), including a greenshoe option of 5 billion rupees, by selling bonds maturing in three years, three merchant bankers said on Tuesday.

The company will pay a coupon of 6.97% and has invited bids from bankers and investors on Wednesday, the bankers said.

Bajaj Housing Finance did not immediately reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 15:

*Size includes base plus greenshoe for some issues

($1 = 85.8600 Indian rupees)

(Reporting by Dharamraj Dhutia, Khushi Malhotra; Editing by Mrigank Dhaniwala)

(([email protected], [email protected]))

MUMBAI, July 9 (Reuters) - India's Bajaj Housing Finance BAJO.NS accepted bids worth 10 billion rupees ($116.7 million) for the reissue of 7.08% June 2030 bonds, three merchant bankers said on Wednesday.

The company will offer a yield of 7.16%, and had invited bids from bankers and investors earlier in the day, they said.

Bajaj Housing Finance did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on July 9:

*Size includes base plus greenshoe for some issues

($1 = 85.6780 Indian rupees)

(Reporting by Dharamraj Dhutia and Khushi Malhotra; Editing by Sonia Cheema)

(([email protected]; [email protected]))