BAJAJHFL

BENGALURU, Jan 27 (Reuters) - India's Bajaj Housing Finance BAJO.NS reported a 25% jump in third-quarter profit on Monday, bolstered by strong credit growth.

The country's biggest home loan financier by market value reported a profit of 5.48 billion rupees ($63.5 million) for the three months ending Dec. 31, compared to 4.37 billion rupees a year ago.

Demand for homes in India, especially premium residences, has remained strong over the last few quarters, which form a key part of Bajaj Housing Finance's assets.

Residential real estate prices are set to rise steadily over the next few years, driven by demand luxury properties from cash-rich individuals, according to a Reuters poll of housing experts.

Last week, smaller rival PNB Housing Finance reported a 43% jump in third-quarter profit, driven by robust demand for home loans.

Bajaj Housing's loan assets rose 31% year-on-year to 955.7 billion rupees, while its assets under management climbed 26% to 1.08 trillion rupees.

Net interest income, the difference between interest earned and paid, rose 25% to 8.06 billion rupees.

Its asset quality remained sequentially steady, with gross bad loans as a percentage of total loans standing at 0.29% at the end of December. On a year-to-year basis, however, it was a marginal decline from 0.25%.

The company shares ended 3% lower ahead of the results, amid weakness in the broader equity market.

($1 = 86.2850 Indian rupees)

(Reporting by Nishit Navin; Editing by Varun H K)

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MUMBAI, Jan 9 (Reuters) - India's Bajaj Housing Finance has raised an aggregate of 27.75 billion rupees ($323 million) through the reissue of 7.66% March 2028 and 7.56% October 2034 bonds, two merchant bankers said on Thursday.

The company will offer a yield of 7.75% and 7.5850%, respectively, on these issuances and had invited bids on Tuesday, 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 Jan. 9

*Size includes base plus greenshoe for some issues

($1 = 85.9140 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Sonia Cheema)

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

• BAJAJ HOUSING FINANCE - DEC QUARTER AUM GREW BY 26% Y/Y

• BAJAJ HOUSING FINANCE - LOAN ASSETS (AR) AT 955.5 BLN RUPEES AT DEC-END

Source text: ID:nBSEbBgXSt

Further company coverage: BAJO.NS

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MUMBAI, Dec 19 (Reuters) - India's Bajaj Housing Finance BAJO.NS has accepted bids worth 5 billion rupees ($58.8 million) for bonds maturing in three years and three months, two merchant bankers said on Thursday.

The company will pay a coupon of 7.66% on this issue and had invited bids from bankers and investors for the issue 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 Dec. 19:

*Size includes base plus greenshoe for some issues

($1 = 85.0290 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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MUMBAI, Dec 18 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 10 billion Indian rupees ($117.8 million), including a greenshoe option of five billion rupees, through a sale of bonds maturing in three years and three months, two merchant bankers said on Wednesday.

The company has invited bids from bankers and investors for the issue on Thursday, the bankers said.

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

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

*Size includes base plus greenshoe for some issues

($1 = 84.9200 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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** Shares of Bajaj Housing Finance Ltd BAJO.NS slide nearly 6% to 133.03 rupees

** First lock-in period for high-profile anchor investors in non-bank mortgage lender ended on Wednesday, which meant 50% of the locked-in shares became available for trading on Thursday

** Over 45.5 mln shares traded, 3.7x 30-day avg volume

** Avg rating of five analysts tracking BAJO is "hold" - LSEG data

** BAJO is down 11% since trading debut but remains well above its issue price of 70 rupees

(Reporting by Nandan Mandayam in Bengaluru)

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Updates with Swiggy's target valuation, subscriptions opening next week; Hyundai India's bid response, lacklustre debut

Oct 30 (Reuters) - Companies are rushing to go public in India this year as the stock market booms, with Swiggy's SWIG.NS $1.35 billion initial public offering opening up for subscriptions next week.

About 270 companies have raised over $12.57 billion through IPOs in India so far this year, well above the $7.4 billion raised in all of 2023, LSEG data shows.

These are the country's biggest IPOs of 2024:

* HYUNDAI MOTOR INDIA

Hyundai Motor India's $3.3 billion IPO, the first by a carmaker in India in two decades, received bids totalling $5.5 billion. However, concerns around lofty valuations and an auto industry slowdown led the company to log a lacklustre debut.

* SWIGGY

SoftBank-backed food delivery firm Swiggy is eyeing an $11.3 billion valuation on its $1.35 billion IPO, after cutting it down twice by a combined 25%, citing recent volatility in the Indian equity markets.

* NTPC GREEN

State-run NTPC's NTPC.NS green energy arm filed draft papers for a $1.2 billion IPO in September.

* BAJAJ HOUSING FINANCE

Shares of India's most valuable home loan financier have more than doubled after a blockbuster response to its $782 million IPO in September.

* OLA ELECTRIC

The electric scooter maker's $734-million IPO in August drew investor interest from the likes of Fidelity and Nomura.

* SCHLOSS BANGALORE

Brookfield-backed Leela hotels owner Schloss Bangalore filed for a $599 million IPO in September.

* BHARTI HEXACOM

Telecom operator Bharti Hexacom's BHAX.NS $511-million IPO was launched in April, attracting bids worth more than $8 billion.

* AADHAR HOUSING FINANCE

Mortgage lender Aadhar Housing Finance's AADA.NS IPO in May raised $358 million.

* GO DIGIT GENERAL INSURANCE

Insurer Go Digit GODG.NS launched its share sale in May, raising $312 million.

(Reporting by Hritam Mukherjee, Nandan Mandayam, Dimpal Gulwani in Bengaluru; Editing by Aditya Kalra, Mark Potter and Lincoln Feast.)

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Oct 28 (Reuters) - India's LIC Housing Finance LICH.NS reported a bigger-than-expected second-quarter profit on Monday, helped by steady demand for its home loans.

The company said its profit after tax rose about 12% to 13.29 billion rupees ($158.1 million) for the quarter ended Sept. 30, outpacing analysts' expectation of 12.26 billion rupees, per data compiled by LSEG.

The firm is 45%-owned by Life Insurance Corporation of India LIFI.NS, the country's top insurer.

Demand for homes in India, especially in the luxury category, is steadily rising, which, in turn, is fuelling demand for home loans.

The affordable housing segment is also seeing a pick up, helped by the government's push for low-cost housing.

As a result, LIC Housing's total loan disbursements grew 12% to 164.76 billion rupees during the second quarter.

"With stable interest rates, we expect steady growth in the next two quarters," the company said in statement.

However, its net interest income - the difference between interest earned and paid - fell 6% to 19.74 billion rupees as its finance costs rose during the quarter.

LIC Housing's net interest margin (NIM), a key gauge for profitability, shrunk for the second consecutive quarter to 2.71% from 2.76% in the first quarter due to increasing competition in the home finance sector, according to analysts.

It reported an NIM of 3.04% for the second quarter last year.

Rivals PNB Housing Housing PNBH.NS and newly-listed Bajaj Housing Finance BAJO.NS also reported a rise in quarterly profit, supported by higher demand for home loans.

Shares of LIC Housing ended 3.4% higher after its results.

($1 = 84.0725 Indian rupees)

(Reporting by Dimpal Gulwani in Bengaluru; Editing by Sonia Cheema)

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Updates with management commentary in paragraphs 7-9, 12

By Nishit Navin and Siddhi Nayak

BENGALURU/MUMBAI, Oct 22 (Reuters) - Bajaj Finance BJFN.NS, one of India's largest non-banking finance companies, reported a smaller-than-expected second-quarter profit on Tuesday as it set aside more funds for potential bad loans.

The company reported a consolidated profit after tax of 40.14 billion rupees ($477.6 million) in the three months to Sept. 30. Analysts, on average, had expected 43.43 billion rupees, as per estimates compiled by LSEG.

Consolidated numbers include the non-banking financial company's (NBFC) subsidiaries, Bajaj Housing Finance BAJO.NS and Bajaj Financial Securities.

Bajaj Finance's loan losses and provisions grew 77% on-year to 19.09 billion rupees.

Asset quality worsened, with gross non-performing asset ratio - the ratio of bad loans to total lending - at 1.06% at the end of September, from 0.86% at the end of prior three months, and 0.91% a year earlier.

While demand for consumer credit - including credit card spends - has remained strong over the last few quarters, the quality of lenders' unsecured loans is showing signs of stress.

Stress on asset quality was seen across all retail and small and medium enterprise loans, Bajaj Finance said. The company "continues to take risk actions by cutting segments and pruning exposures," managing director Rajeev Jain said on a media call.

"We are cautiously optimistic that loan loss to average AUF (assets under finance) has peaked," Jain said.

He estimates loan loss to average AUF to go down to 2% by Jan-March from 2.16% in July-September.

Bajaj's interest income rose nearly 28% to 149.87 billion rupees, driven by a 29% year-on-year rise in its assets under management.

Net interest income, the difference between interest earned and paid on borrowings, grew 23% to 88.38 billion rupees.

The company expects its cost of funds, or the interest rate that it pays to acquire funds for lending or investment, to have peaked in the fiscal second quarter.

Shares of the company ended 1.5% lower ahead of the results.

($1 = 84.0450 Indian rupees)

(Reporting by Nishit Navin; Editing by Janane Venkatraman and Shailesh Kuber)

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Oct 21 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• BAJAJ HOUSING FINANCE Q2 PAT 5.46 BILLION RUPEES

• BAJAJ HOUSING FINANCE Q2 TOTAL REVENUE FROM OPERATIONS 24.1 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: BAJO.NS

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MUMBAI, Oct 18 (Reuters) - India's Bajaj Housing Finance BAJO.NS raised 15 billion rupees ($178.5 million) through the issue of a corporate bond with a rarely-used structure, two merchant bankers said on Friday.

The company sold five-year bonds on Thursday, and the coupon is linked to 91-day Treasury Bill yield, as it would pay a spread of 155 basis points over the yield.

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

The 91-day T-bill yield has hovered below the key policy rate since the start of this month, and is expected to ease further in coming weeks.

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

*Size includes base plus greenshoe for some issues

($1 = 84.0430 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Varun H K)

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MUMBAI, Oct 15 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise 15 billion rupees ($178.43 million), including a greenshoe option of 5 billion rupees, through a sale of bonds maturing in five years, three bankers said on Tuesday.

The non-banking finance company has invited bids from bankers and investors for the issue on Wednesday, they said.

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

*Size includes base plus greenshoe for some issues

($1 = 84.0670 Indian rupees)

(Reporting by Dharamraj Dhutia; Editing by Rashmi Aich)

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** Shares of India's most valued home loan financier Bajaj Housing Finance BAJO.NS fall 5.7% to 142.34 rupees

** The minimum 30 day lock-in period for 50% of shares allotted to anchor investors ends on Monday, freeing about 126 million shares for sale

** Lock-in period prevents anchor investors from selling shares immediately after stock being listed

** BAJO shares set for worst session in about a week

** Stock down ~14% since listing in mid-Sept

(Reporting by Dimpal Gulwani in Bengaluru)

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Adds latest details on IPOs of Hyundai Motor India, Bajaj Housing Finance, Swiggy, Schloss, NTPC Green; changes media packaging code

Oct 8 (Reuters) - Companies are rushing to go public in India this year as the stock market booms, with Hyundai Motor's 005380.KS Indian unit gearing up to launch the country's biggest initial public offering (IPO) of 2024 so far next week.

About 260 companies have raised over $9 billion through IPOs in India so far this year, more than double the amount raised in the same period last year, LSEG data shows.

These are the country's biggest IPOs of 2024:

* HYUNDAI MOTOR INDIA

Hyundai Motor India's $3 billion IPO, the first by a carmaker in India in two decades, opens for subscription next week. Its Korean parent is selling a 17.5% stake in the offering as the company targets a valuation of about $19 billion.

* SWIGGY

SoftBank-backed food delivery firm Swiggy in September filed papers for an IPO, which a source said could be worth $1.25 billion.

* NTPC GREEN

State-run NTPC's NTPC.NS green energy arm filed draft papers for a $1.2 billion IPO in September.

* BAJAJ HOUSING FINANCE

Shares of India's most valuable home loan financier have more than doubled after a blockbuster response to its $782 million IPO in September.

* OLA ELECTRIC

The electric scooter maker's $734-million IPO in August drew investor interest from the likes of Fidelity and Nomura.

* SCHLOSS BANGALORE

Brookfield-backed Leela hotels owner Schloss Bangalore filed for a $599 million IPO in September.

* BHARTI HEXACOM

Telecom operator Bharti Hexacom's BHAX.NS $511-million IPO was launched in April, attracting bids worth more than $8 billion.

* AADHAR HOUSING FINANCE

Mortgage lender Aadhar Housing Finance's AADA.NS IPO in May raised $358 million.

* GO DIGIT GENERAL INSURANCE

Insurer Go Digit GODG.NS launched its share sale in May, raising $312 million.

(Reporting by Nandan Mandayam, Dimpal Gulwani in Bengaluru; Editing by Aditya Kalra and Mark Potter)

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Oct 4 (Reuters) - Bajaj Housing Finance Ltd BAJO.NS:

• ALLOTTED NON-CONVERTIBLE DEBENTURES WORTH 5.5 BILLION RUPEES

Source text for Eikon: ID:nBSE7xfnhY

Further company coverage: BAJO.NS

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MUMBAI, Sept 30 (Reuters) - India's Bajaj Housing Finance BAJO.NS plans to raise up to 15 billion rupees ($179.04 million), including a greenshoe option of 10 billion rupees, through a sale of bonds maturing in 10 years, three bankers said on Monday.

The non-banking finance company has invited bids for the issue on Tuesday, they said.

Here is the list of deals reported so far on Sept. 30:

*Size includes base plus greenshoe for some issues

($1 = 83.7825 Indian rupees)

(Reporting by Bhakti Tambe and Dharamraj Dhutia)

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