Cyril Amarchand Mangaldas has advised Indian home-loan financier Bajaj Housing Finance (BHF) and its promoter Bajaj Finance on BHF’s $782 million initial public offering, with Khaitan & Co and Linklaters representing the book-running lead managers to the offer.

The BRLMs were Kotak Mahindra Capital, BofA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial and IIFL Securities.

The IPO attracted bids worth about $38.60 billion, or nearly 64 times the shares on offer, making it the most sought-after major public listing this year in a red-hot IPO market.

The interest in the company's public offer - the most this year among mainboard IPOs worth more than $500 million - was due to the lender's prospects in a booming home loan market and came during the busiest week for Indian IPOs in 2024, Reuters reported.

The listing values BHF at $7 billion, making it India’s largest listed home loan financier.

The CAM capital markets team on the deal was led by senior partner Yash Ashar and partner Reuben Chacko and included principal associate Aniran Ghoshal, and associates Surya Rajkumar, Nitesh Mishra, Dhruv Sharma, Tara Thakur, and Julia Joseph.

Partners Bharath Reddy and Sindhushri Badarinath advised in relation to matters pertaining to the ESOP Scheme of the company.

Khaitan’s deal team included partners Abhimanyu Bhattacharya and Thomas George, counsel Nagashayana Srinivasaiah, and associates Pooja Agarwal, Aadhya Singh, and Mitluv Semwal.

The Linklaters team was led by Amit Singh, partner and head of India practice, with support from counsel Joseph Wolpin, managing associate Anandee Banerji, and associate Rushil Oberoi.

About 200 companies have raised more than $7 billion in India this year, more than double the amount raised during the same period last year, in a booming stock market that has hit record highs more than 50 times this year, LSEG data showed.