Shares of Bajaj Finance and Bajaj Finserv, collectively known as the Bajaj Twins, surged in early trading today, emerging as the top gainers on the Nifty index. The rally comes on the heels of the announcement of Initial Public Offering (IPO) plans for Bajaj Housing Finance, a subsidiary of Bajaj Finance.
Stock Performance
As of 10:28 AM:
- Bajaj Finance (NSE: BAJFINANCE) was trading at ₹7,352.75, up ₹152.60 or 2.12%
- Bajaj Finserv (NSE: BAJAJFINSV) saw an even stronger performance, trading at ₹1,834.90, up ₹51.85 or 2.91%
Bajaj Housing Finance IPO Details
The upcoming IPO for Bajaj Housing Finance has generated significant investor interest. Key details include:
- IPO Timeline: September 9-11, 2024
- Total Issue Size: ₹6,560 crore
- Fresh Issue: ₹3,560 crore
- Offer for Sale (OFS): ₹3,000 crore
- OFS Participant: Bajaj Finance will be selling shares worth ₹3,000 crore via OFS
As the IPO date approaches, all eyes will be on the Bajaj Group to see how this new listing impacts the overall group structure and valuation. Investors and market watchers will be keenly observing the subscription levels and eventual listing performance of Bajaj Housing Finance shares.
