Stock Market
Bajaj Housing Finance Limited has added a major achievement to its name as soon as it got listed in the stock market. The company became the country’s most valuable housing finance company on the day of listing. The shares of Bajaj Housing Finance Limited had a very good start in the market. The company’s shares closed at Rs 165, up nearly 136 percent from the issue price of Rs 70 in the first day’s trading. Due to the strong rise in the share price, the market capitalization of Bajaj Housing Finance Limited stood at Rs 1,37,406.09 crore at the end of trading. With this, Bajaj Housing Finance became the country’s most valuable housing finance company.
These companies were left behind
Housing and Urban Development Corporation (HUDCO) is in second place with a market valuation of Rs 49,476.96 crore. It is followed by LIC Housing Finance at third place with a valuation of Rs 37,434.54 crore and PNB Housing Finance at fourth place with a valuation of Rs 27,581.41 crore. Bajaj Housing Finance’s Rs 6,560 crore initial public offering (IPO) was subscribed 63.60 times on September 11, the last day of bidding. The price range for the issue was fixed at Rs 66-70 per share.
It is necessary to be listed in the market
The share sale was done in compliance with the Reserve Bank of India’s rules. According to this, leading non-banking financial companies are required to be listed on the stock markets by September 2025. The firm provides finance for the purchase and renovation of residential and commercial properties.
The stock rose 136 percent on the first day
Shares of Bajaj Housing Finance Limited made a strong debut in the market on Monday. During this period, the company’s stock closed with a massive jump of about 136 percent against the issue price of Rs 70. Shares of Bajaj Housing Finance were listed on BSE and NSE at a price of Rs 150, which is 114.28 percent higher than the issue price. The company’s stock on BSE rose 135.7 percent to close at Rs 164.99, which is its upper circuit limit.
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