Bajaj Housing Finance shares are set to make their debut on the stock exchanges today at 10:00 AM IST. The much-anticipated listing will take place during the Special Pre-open Session (SPOS) on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE), with trading set to officially begin at 10:00 AM.
Listing on the Stock Exchange
According to a BSE notice, the shares of Bajaj Housing Finance will be listed in the ‘B’ Group of Securities. The notice stated, “Trading Members of the Exchange are hereby informed that effective from Monday, September 16, 2024, the equity shares of Bajaj Housing Finance Limited shall be listed and admitted to dealings on the Exchange.”
Strong Demand for Bajaj Housing Finance IPO
Bajaj Housing Finance, a non-deposit-taking housing finance company, conducted its Initial Public Offering (IPO) between Monday, September 9, and Wednesday, September 11, 2024. The IPO attracted strong interest from investors across different categories.
Here’s a breakdown of the subscription levels:
- Non-Institutional Investors (NIIs): Subscribed 41.51 times
- Qualified Institutional Buyers (QIBs): Subscribed 209.36 times
- Retail Investors: Subscribed 7.04 times
- Employee Portion: Subscribed 2.05 times
- Shareholder Portion: Oversubscribed by 17.53 times
In total, the IPO saw an overall subscription rate of 63.61 times, indicating high demand from all types of investors.
Offer for Sale and New Equity Shares
The Bajaj Housing Finance IPO included both an Offer for Sale (OFS) and the issuance of new equity shares. The Offer for Sale was made by Bajaj Finance, the parent company of Bajaj Housing Finance, for a total of ₹3,000 crore. Additionally, Bajaj Housing Finance issued new equity shares worth up to ₹3,560 crore.
The total capital raised from this IPO will help the company meet regulatory requirements. The Reserve Bank of India (RBI) has directed higher-layer non-banking financial companies (NBFCs) like Bajaj Housing Finance to list on stock exchanges by September 2025.
Bumper Stock Market Debut
Bajaj Housing Finance made an impressive debut on the stock exchanges. The share price opened at ₹150 per share, which is 114.29% higher than the issue price of ₹70 per share. This substantial increase reflects the strong demand for the company’s shares and indicates a positive investor outlook for its future.
Bajaj Housing Finance IPO Subscription Details
The Bajaj Housing Finance IPO opened for subscription on September 9 and closed on September 11. The company saw a significant response from various investor groups.
Here’s a quick look at how the subscription levels changed over the three days:
- First Day (September 9): The IPO was subscribed 2.02 times
- Second Day (September 10): The subscription rate increased to 7.51 times
- Third Day (September 11): The IPO reached an impressive subscription rate of 63.61 times
Expert Views on Bajaj Housing Finance’s Strong Demand
The strong demand for Bajaj Housing Finance’s IPO did not go unnoticed by market experts. Prathamesh Masdekar, a research analyst at StoxBox, commented on the listing by saying, “Bajaj Housing Finance Ltd saw an extraordinary demand for its offering, with a subscription rate surpassing 67 times. We anticipate a strong debut on the stock exchanges on Monday, with an expected premium of 107% above the upper band price.”
Bajaj Housing Finance has made a remarkable entry into the stock market, with strong investor interest driving the share price well above the issue price. As the company begins trading on the BSE and NSE, it is expected to continue attracting attention from investors and analysts. The positive market sentiment signals a bright future for Bajaj Housing Finance as it embarks on its journey as a publicly listed company.
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