Bajaj Housing Finance made a strong debut on the stock market today, September 16, 2024, with shares listing at ₹150 on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). This marks a substantial 114.29% increase from the IPO issue price of ₹66-70 per share. Shortly after listing, the stock hit the upper circuit, climbing 10% to ₹165.
The company’s ₹6,560 crore IPO was in high demand, receiving a subscription of 63.61 times, with qualified institutional buyers (QIBs) leading the charge, subscribing 209.36 times. The grey market premium prior to listing was around ₹79, signaling strong investor interest.
Investors are enjoying significant gains, with retail applicants earning ₹17,120 per application, while high-net-worth individuals (HNIs) are seeing profits of ₹2,39,680 per application. Shareholders have also benefitted with gains of ₹17,120 per application.
The IPO consisted of a fresh issue worth ₹3,560 crore and an offer-for-sale (OFS) of ₹3,000 crore by Bajaj Finance. The funds are aimed at supporting the company’s capital base for future growth.
Following the successful listing, Bajaj Housing Finance Managing Directors, Sanjiv Bajaj and Atul Jain, expressed confidence in the company’s growth potential. They emphasized strong financial stability, steady margins, and stable Net Interest Margins (NIMs), setting a positive outlook for the company’s future.
