Bajaj Housing Finance has made a strong debut with its initial public offering (IPO), becoming the first company to surpass ₹2 lakh crore in subscription value. The IPO, launched on September 9, has seen tremendous interest, with the issue being subscribed 59 times by the end of the bidding period.
The company aimed to raise ₹6,560 crore through the offering, with a price band set between ₹66-70 per share. By the end of Day 1, the IPO had been subscribed 2.26 times, and by Day 2, it had surged to 8.08 times.
The IPO consists of a fresh issue of shares worth ₹3,560 crore, with the remaining ₹3,000 crore coming from an offer for sale. The funds raised will be used to strengthen Bajaj Housing Finance’s capital base to support its lending operations.
Retail investors had the opportunity to apply with a minimum investment of ₹14,980 for 214 shares. Allocation of shares is expected to be finalized on September 12, 2024, with the listing on the BSE and NSE likely on September 16, 2024.
