Bajaj Housing Finance IPO Subscribed 2.14x on Day 1

One of the leading housing finance companies in India, Bajaj Housing Finance Limited’s IPO opened for bidding on September 9, 2024, and will close on September 11, 2024. Bajaj Housing Finance IPO is a book-built issue of ₹6,560.00 crores. The issue is a combination of a fresh issue of 50.86 crore shares aggregating to ₹3,560.00 crores and an offer for sale of 42.86 crore shares aggregating to ₹3,000.00 crore.

Bajaj Housing Finance IPO price band is set at ₹66 to ₹70 per share. The minimum lot size for an application is 214 Shares. The minimum amount of investment required by retail investors is ₹14,980. 

Day Wise Subscription

On 1st day of bidding, Bajaj Housing Finance IPO subscribed 2.14 times. The public issue subscribed 1.60 times in the retail category, 1.14 times in QIB, and 4.62 times in the NII category.

Grey Market Premium

Bajaj Housing Finance IPO’s last GMP is ₹60.50. With a price band of ₹70.00, Bajaj Housing Finance IPO’s estimated listing price is ₹130.5 (cap price + today’s GMP). The expected percentage gain/loss per share is 86.43%.

About Bajaj Housing Finance Limited

Founded in 2008, Bajaj Housing Finance is a non-deposit-taking Housing Finance Company (HFC) registered with the National Housing Bank (NHB) since 2015. The company is part of the Bajaj Group, a diversified group of companies with interests in various sectors. 

Bajaj Housing Finance provides customised financial solutions to individuals and corporations for the purchase and renovation of homes and commercial spaces. The company’s mortgage product range is comprehensive and includes (i) home loans, (ii) loan against property (LAP), (iii) rent concessions, and (iv) developer finance.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.