Bajaj Housing Finance IPO 2024: All You Need to Know About GMP, Allotment Status, and Upcoming Listing
Bajaj Housing Finance IPO has created a significant buzz in the Indian financial market. This initial public offering (IPO) is valued at ₹6,560 crores and has attracted immense interest from investors, making it one of the largest IPOs of the year. The IPO was open for subscription from September 9 to September 11, 2024, and has already seen record-breaking subscription numbers.
Main Points
Bajaj Housing Finance IPO Subscription Highlights
The Bajaj Housing Finance IPO was oversubscribed by a staggering 67.43 times, with a total of ₹3.24 lakh crore in bids received. This amount is unprecedented, making it the first Indian IPO to surpass ₹3 lakh crore in bids. The Qualified Institutional Buyers (QIBs) led the charge, subscribing 222.05 times their allotted shares. Non-Institutional Investors (NIIs) also showed strong interest, subscribing 43.98 times, while retail investors subscribed 7.41 times their portion.
The IPO’s price band was set between ₹66 and ₹70 per share, with a minimum investment requirement of ₹14,980 for retail investors applying for a lot of 214 shares. The offering included a fresh issue of ₹3,560 crores and an offer for sale of ₹3,000 crores from its parent company, Bajaj Finance.
Bajaj Housing Finance IPO Grey Market Premium (GMP)
The Grey Market Premium (GMP) for the Bajaj Housing Finance shares is currently trading between ₹75 and ₹84, indicating a potential listing gain of up to 120%. This strong GMP reflects the high demand and positive sentiment surrounding the IPO. Investors are optimistic, with expectations that the shares will list at around ₹145 to ₹154 on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 16, 2024.
Bajaj Housing Finance IPO Allotment Status
The allotment process for the Bajaj Housing Finance IPO was finalized on September 12, 2024. Investors can check their allotment status through the BSE and NSE websites or on the registrar’s portal, Kfin Technologies. To check the allotment status, investors need to enter their application number or Permanent Account Number (PAN) on the respective websites.
Company Overview
Bajaj Housing Finance, established in 2008, is a non-deposit-taking housing finance company registered with the National Housing Bank since 2015. The company offers a wide range of mortgage products, including home loans, loans against property, and developer financing. As of March 31, 2024, Bajaj Housing Finance had around 308,693 active customers, with housing loans making up 81.7% of its portfolio.
The company aims to use the proceeds from the IPO to strengthen its capital base and support future lending initiatives. For the fiscal year 2023-24, Bajaj Housing Finance reported a net profit of ₹1,731 crores, a 38% increase from the previous year, showcasing its robust financial performance.
Bajaj Housing Finance IPO Market Sentiment
Market experts have expressed strong confidence in Bajaj Housing Finance’s growth potential. Analysts attribute the overwhelming demand for the IPO to the company’s solid fundamentals, its association with the reputable Bajaj Group, and the favorable market conditions for housing finance. Brokerages such as Swastika Investmart and Motilal Oswal have recommended the IPO for subscription, citing its strong financial metrics and growth trajectory.
What’s Next?
The shares of Bajaj Housing Finance are set to be listed on September 16, 2024. Investors are eagerly awaiting this date, hoping for substantial gains from their investments. The strong GMP and record subscription numbers indicate that the listing could be a significant event in the Indian stock market.
