 "Bajaj Housing Finance, four others get Sebi's approval to go public")
The market regulator Securities and Exchange Board of India (Sebi) has given the nod to the Rs 7,000 crore initial public offer (IPO) of Bajaj Housing Finance. The housing finance firm, which is a wholly-owned subsidiary of Bajaj Finance, is eyeing to raise Rs 4,000 crore through fresh issuance while the public offer will also have an offer for sale.
The firm had filed its documents with the regulator on June 10 and received the approval on Monday.
Sebi has also issued the observation letter or approval to IPOs of four other companies, including Rekha Rakesh Jhunjhunwala-backed Baazar Style Retail.
The company on Monday said that it has mobilised Rs 37 crore from a venture capital fund in the pre-IPO round, following which the fresh issue size has been reduced from Rs 185 crore to Rs 148 crore.
Maharashtra-based non-banking finance company (NBFC) Manba Finance, engineering and construction company Deepak Builders & Engineers, and Diffusion Engineers also received approval from Sebi last week.
However, the offer document of Sanathan Textiles has been returned by the regulator.
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