FCC

Bajaj Housing Finance seeks time to list on bourses

2023-08-29

The home finance division of Bajaj Finance, Bajaj Housing Finance, has asked the Reserve Bank of India (RBI) for more time to list on the local stock market, claiming that the October 2025 deadline is too soon for an HFC that is only five and a half years old.

According to numerous sources with knowledge of the situation, the request was made during a meeting of top NBFC executives on Friday with RBI governor Shaktikanta Das, deputy governors M Rajeshwar Rao and Swaminathan J, among others.

"Bajaj Housing has requested an extension.

They argue that since the company is just five and a half years old, there should be at least a 10-year track record before it can be listed.

One of the sources listed above remarked, "They also said they make all relevant disclosures with the holding company results, so what is the hurry in listing?"

However, a second person familiar with the conversations said that the regulator did not appear prepared to extend the deadline.