Bajaj Housing Finance IPO: Bajaj Housing Finance Ltd’s ₹6,560 crore initial public offering (IPO) saw a tremendous response from investors, with the Qualified Institutional Buyers (QIB) segment being the standout, receiving a subscription of 209.36 times by the end of the third and final day of bidding.
On Wednesday, the Non-Institutional Investors (NII) portion was subscribed 41.51 times, while the shareholder segment saw 17.52 times subscription. Retail investors subscribed 7.04 times, and the employee portion received 2.05 times the bids.
Massive Investor Response for Bajaj Housing Finance IPO
This year has seen a lot of excitement around IPOs, and Bajaj Housing Finance IPO is no exception. Investors are eagerly pouring funds into this public offering.
The Bajaj Housing Finance IPO, valued at Rs 6,560 crore, has attracted bids worth an incredible Rs 3.2 lakh crore, making it one of the most eagerly awaited listings of the year. To give you an idea, that amount exceeds the GDP of some small nations.
With the grey market premium soaring past 100%, both institutional and retail investors are showing strong interest, anticipating significant gains on the listing day.
The ₹6,560 crore Bajaj Housing Finance IPO was subscribed 67.43 times overall by September 11, 2024, at 6:19 PM. The retail category was subscribed 7.41 times, while the Qualified Institutional Buyer (QIB) segment surged to 222.05 times. Non-Institutional Investors (NII) subscribed 43.98 times.
The offering included a fresh issue of ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by promoter Bajaj Finance Ltd. The QIB segment played a major role in boosting the Bajaj Housing Finance IPO, with their strong interest contributing to 222.05 times subscription on the final day of bidding, pushing total bids to 46.26 billion against 72.75 million shares on offer.
The price band was set at ₹66-70 per share, with a minimum application size of 214 equity shares, and further applications in multiples of 214 shares.
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Bajaj Housing Finance Latest GMP
As of September 11, 2024, at 5:02 PM, Bajaj Housing Finance IPO has a Grey Market Premium (GMP) of Rs 73. With the IPO price band set at Rs 70, this suggests a potential listing price of Rs 143, which includes the GMP. This represents a projected gain of 104.29% per share.
Several major brokerages, including Chola Securities, IDBI Capital, Nirmal Bang Securities, and Reliance Securities, have recommended subscribing to Bajaj Housing Finance’s IPO.
Before the IPO, Bajaj Housing Finance successfully raised Rs 1,758 crore from 104 anchor investors. Key investors include the Government of Singapore, New World Fund Inc, ADIA, and Fidelity, along with various domestic mutual funds and insurance firms.
The company’s strong financial performance adds to its appeal. For the quarter ending June 30, 2024, Bajaj Housing Finance reported a net profit of Rs 482.61 crore on revenue of Rs 2,208.73 crore. For the full year ending March 31, 2024, the company earned a net profit of Rs 1,731.22 crore on revenue of Rs 7,617.71 crore.
The IPO allotment is expected to be finalized on September 12, 2024, with the listing anticipated on the BSE and NSE on September 16, 2024.
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FAQs
Q.1. What is the Grey Market Premium (GMP) for Bajaj Housing Finance IPO?
Ans. As of September 11, 2024, the GMP is Rs 73, indicating a potential listing price of Rs 143.
Q.2. How was Bajaj Housing Finance IPO subscription?
Ans. The IPO was subscribed 67.43 times overall, with QIBs at 222.05 times, NIIs at 43.98 times, and retail investors at 7.41 times.
Q.3. What are the key financials of Bajaj Housing Finance?
Ans. For the quarter ending June 30, 2024, the company reported a net profit of Rs 482.61 crore on revenue of Rs 2,208.73 crore.
Q.4. What is the price band for Bajaj Housing Finance’s IPO?
Ans. The price band is set between ₹66 and ₹70 per share.
Q.5. When is the IPO listing date for Bajaj Housing Finance?
Ans. The IPO is expected to be listed on the BSE and NSE on September 16, 2024.
