Bajaj Housing Finance has filed preliminary papers with capital markets regulator Sebi to raise ₹7,000 crore through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares of up to ₹4,000 crore and an offer for sale (OFS) of equity shares worth ₹3,000 crore by parent Bajaj Finance, according to the draft red herring prospectus (DRHP).
The share sale is being conducted to comply with the Reserve Bank of India’s (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
Proceeds from the fresh issue will be used to augment the company’s capital base to meet future capital requirements.
Bajaj Housing Finance is a non-deposit-taking housing finance company registered with the National Housing Bank since September 2015. It offers financial solutions for purchasing and renovating residential and commercial properties.
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It has been identified and categorised as an “upper layer” NBFC by the RBI in India, and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.
For the entire financial year 2023-24, the housing lender posted a net profit of ₹1,731 crore, marking a 38% growth from ₹1,258 crore in FY23.
Housing finance companies Aadhar Housing Finance and India Shelter Finance have been recently listed on the stock exchanges.
On June 6, the board of Bajaj Finance approved the sale of shares worth ₹3,000 crore in the initial public offering of Bajaj Housing Finance.
Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd and JM Financial Ltd are the book-running lead managers that will manage the company’s public issue.
Gov.-elect Abigail Spanberger has tapped Del. Mark Sickles, D-Fairfax, to serve as her Secretary of Finance.
Sickles has been in the House of Delegates for 22 years and is the second-highest-ranking Democrat on the House Appropriations Committee.
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“As the Vice Chair of the House Appropriations Committee, Delegate Sickles has years of experience working with both Democrats and Republicans to pass commonsense budgets that have offered tax relief for families and helped Virginia’s economy grow,” Spanberger said in a statement Tuesday.
Sickles has been a House budget negotiator since 2018.
Del. Mark Sickles.
“We need to make sure every tax dollar is employed to its greatest effect for hard-working Virginians to keep tuition low, to build more affordable housing, to ensure teachers are properly rewarded for their work, and to make quality healthcare available and affordable for everyone,” Sickles said in a statement. “The Finance Secretariat must be a team player in helping Virginia’s government to perform to its greatest potential.”
Sickles is the third member of the House that Spanberger has selected to serve in her administration. Del. Candi Mundon King, D-Prince William, was tapped to serve as the Secretary of the Commonwealth, and Del. David Bulova, D-Fairfax, was named Secretary of Historic and Natural Resources.
This work is licensed under CC BY-NC-ND 4.0
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SEOUL, Dec 23 (Reuters) – South Korea’s central bank needs to remain wary of financial stability risks, such as heightened volatility in the won currency and upward pressure on house prices, a board member said on Tuesday.
“Volatility is increasing in financial and foreign exchange markets with sharp fluctuations in stock prices and comparative weakness in the won,” said Chang Yong-sung, a member of the Bank of Korea’s seven-seat monetary policy board.
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The won hit on Tuesday its weakest level since early April at 1,483.5 per dollar. It has fallen more than 8% in the second half of 2025.
Chang also warned of high credit risks for some vulnerable sectors and continuously rising house prices in his comments released with the central bank’s semiannual financial stability report.
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In the report, the BOK said it would monitor risk factors within the financial system and proactively seek market stabilising measures if needed, though it noted most indicators of foreign exchange conditions remained stable.
Monetary policy would continue to be coordinated with macroprudential policies, it added.
The BOK held rates steady for the fourth straight monetary policy meeting last month and signalled it could be nearing the end of the current rate cut cycle, as currency weakness reduced scope for further easing.
Following the November meeting, it has rolled out various currency stabilisation measures.
The BOK’s next monetary policy meeting is in January.
Reporting by Jihoon Lee; Editing by Jamie Freed
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“I am running because the system needs to be fixed and I have the skills and mindset to do it…”
by MIKE BURKHOLD
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Earlier this month, at the invitation of Virginia Secretary of Finance Steve Cummings, I spent a full day in Richmond meeting with leaders from across that state’s financial infrastructure. These were not ceremonial handshakes. These were working meetings — substantive, focused and highly instructive.
I met with teams overseeing budgeting, taxation, regulatory oversight, accounting and administration. What I found was a modern, integrated and disciplined approach to managing public money. And it made me even more certain of one thing: South Carolina is ready for change.
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***
TEAMWORK AND TALENT MATTER
What stood out most in Virginia was the cohesion. From top to bottom, everyone I met shared the same mission — being responsible stewards of the taxpayers’ money. No silos. No blame games. Just a united focus on efficiency, transparency and performance.
That mindset doesn’t happen by accident. It is baked into the culture. The Secretary of Finance meets quarterly with department heads to review budgets, resolve audit findings and keep teams on track. There is accountability at every level. And it works.
That is what I want to bring to South Carolina. As Comptroller General, my job is to revitalize and modernize a critical finance function and to do it in close partnership with the legislature, the governor and the treasurer. I want to build an office that operates with precision, earns trust and gives lawmakers the clarity they need to govern wisely.
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THIS IS BIGGER THAN ONE SEAT
I am not running for this office because I want a long political career. I am running because the system needs to be fixed and I have the skills and mindset to do it.
If part of that fix means rethinking whether this seat should remain an elected position then I welcome that conversation. In other states like Florida, voters elect a Chief Financial Officer with broad oversight. In Virginia, the Secretary of Finance is appointed by the governor and oversees all fiscal functions. Either model can work – but both reflect a commitment to modern coordinated financial management.
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What matters most is that we have a structure that delivers results and earns the public’s trust. That structure needs to be part of a bigger conversation focused on delivering value to citizens – not maintaining fiefdoms or political turf.
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RELATED | S.C. ‘REPUBLICANS’ REBUFF TRUMP ON REDISTRICTING
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PUBLIC SERVICE STARTS WITH LEADERSHIP
One of the most inspiring parts of my trip was seeing the caliber of leaders who had left high-paying private sector roles to serve the people of Virginia. They brought with them a culture of excellence and a belief that good government is possible when the right people step forward.
We have that kind of talent in South Carolina. We just need to encourage more of it. I am stepping up because I believe in servant leadership. I see a seat that has not been led this way in a long time and there is a lot to fix. Not just the systems and operations but also the teamwork and coordination across agencies.
My goal is not what is best for Mike. It is what is best for South Carolina. I want to rebuild the Comptroller General’s office into a trusted partner, a respected institution and a model for modern financial leadership. Then I want to help figure out what structure will best serve the next generation.
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A MOMENT OF OPPORTUNITY
The recent $3.5 billion error exposed just how outdated and fragile our current systems are. But we are not starting from scratch. We are starting from a place of strength. We have smart people, a strong economy and the will to do better.
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Now we need to modernize our expectations. We need to align talent. We need to redesign the systems that manage $40 billion of taxpayer money. And we need leadership that sees the big picture, listens well and gets the details right.
South Carolina’s future is full of promise. But to get there, we need to treat government finance with the same rigor, discipline and urgency as any top-performing business.
That is why I am running. Not to keep a seat – but to serve the mission.
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ABOUT THE AUTHOR…
Mike Burkhold is a Republican candidate for comptroller general of South Carolina.
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