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MUMBAI: Bajaj Finserv chairman Sanjiv Bajaj is seeing an opportunity to build an “HDFC of the future” through Bajaj Housing Finance, after the mortgage giant vacated the space following a reverse merger with its banking subsidiary.
Bajaj Housing Finance is expected to launch its Rs 6,560 crore initial public offering next week partly to comply with RBI‘s listing mandate and also to scale up the housing finance arm.Of the issue, Rs 3,560 crore is fresh capital aimed at funding growth. “Clearly, the opportunity is to be the HDFC of the future, not the HDFC of the past because the opportunity to grow is there as the market is only getting larger. The responsibility on us is to bring the same level of capabilities that we have brought in Bajaj finance over here,” said Sanjiv. He was responding to a question on whether the company was seeking to fill the space vacated by HDFC.
“One interesting aspect of our model is that we operate as a full-fledged mortgage company, handling everything from retail and affordable home loans to developer financing and lease rental discounting. This approach helps balance growth, profitability, and risk, while maintaining high asset quality and attracting good-quality liabilities,” said Bajaj.
Bajaj Housing Finance filed its draft prospectus with the markets regulator in June. The company has been classified as an upper layer NBFCs which requires it to get listed in the stock market by Sept 2025.
According to Atul Jain, MD, Bajaj Housing Finance, one of the key differentiators of the company is that it is a tech-enabled home loan provider focusing on process efficiency and customer ease. “We try to do as much as possible on digital and we believe that we are ahead of the curve from others – whether it is the legal report interface, our title search report or a sanction letter acceptance by a customer,” he said.
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