Cyril Amarchand Mangaldas (CAM) acted as the Indian legal counsel to Bajaj Housing Finance Limited (the “Company”) and Bajaj Finance Limited (the "Promoter Selling Shareholder"), on the initial public offering of 937,142,856 equity shares of the Company (“Equity Shares”, and such offering, the “Offer”) aggregating to ₹65,600.00 million (the “Offer”). The Offer consisted of a fresh issue of 508,571,428 Equity Shares aggregating to ₹35,600.00 million and an offer for sale of 428,571,428 Equity Shares aggregating to ₹30,000.00 million by Bajaj Finance Limited.

The Offer opened on Monday, September 6, 2024 and closed on Wednesday, September 11, 2024. The Equity Shares commenced trading on BSE Limited and National Stock Exchange of India Limited on September 16, 2024.

The transaction team was led by Yash J. Ashar, Senior Partner; Reuben Chacko, Partner, Regional Co-head Markets Practice (Southern Region); with support from Aniran Ghoshal, Principal Associate; Surya Rajkumar, Associate; Nitesh Mishra, Associate;   Dhruv Sharma, Associate;  Tara Thakur, Associate;  and Julia Joseph, Associate;

Bharath Reddy, Partner;  Sindhushri Badarinath Partner; with support from Abhishek Jain, Associate; and Jay Sharma, Associate advised in relation to matters pertaining to the ESOP Scheme of the Company.

The Book Running Lead Managers (“BRLMs”) to the Offer were Kotak Mahindra Capital Company Limited, BofA Securities India Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets Limited, JM Financial Limited and IIFL Securities Limited.

“Bajaj Housing Finance IPO was a historic one for the Bajaj Group after 31 years from their previous listing, with an aggregate issue size of Rs. 65,600 million. It was very well received by the market having received bids worth Rs. 3.20 Trillion and having over subscribed 63.61 times. We acted as the counsel to Bajaj Housing Finance (the Issuer) and Bajaj Finance (being a selling shareholder) on this public issue.”

- Reuben Chacko, Partner, Regional Co-head Markets Practice (Southern Region), Cyril Amarchand Mangaldas