Investors’ money doubled after listing.
Bajaj Housing Finance made investors happy. The company’s shares were listed on Monday at a whopping premium of 114 per cent. Investors’ money doubled after listing. Shares of Bajaj Housing Finance were listed on the BSE at ₹ 150 per share, up 114.29% from the issue price of ₹ 70 per share. Shares of Bajaj Housing Finance on the NSE began trading at ₹ 150 per share, with a premium of 114.29%. Classified as an NBFC, the firm provides a variety of mortgage products, including home loans, loan against property, lease rent discounts and developer financing.
The IPO received tremendous support
Bajaj Housing Finance’s Rs 6,560 crore initial public offering (IPO) received a tremendous response from investors. The IPO received a total subscription of Rs 3.23 lakh crore. The allotment of shares was finalized on September 12, a day after the issue closed on September 11. According to assets under management, Bajaj Housing Finance is the second largest housing finance company in India, behind LIC Housing Finance.
Strong jump in market capitalization
According to Money Control, with the bumper listing, the market capitalization of Bajaj Housing Finance reached above Rs 1.07 lakh crore. The share price reached the highest level of the day at Rs 160.92. This is more than double the estimated Rs 58,297 crore at the IPO allotment price of Rs 70 per share. Bajaj Housing Finance, registered with the National Housing Bank in September 2015, is a non-deposit taking housing finance company. It provides financial solutions for the purchase and renovation of residential and commercial properties.
Book Running Lead Manager
The book running lead managers to the Bajaj Housing Finance IPO are Kotak Mahindra Capital Company Limited, Axis Capital, BofA Securities India Limited, Goldman Sachs (India) Securities, JM Financial, SBI Capital Markets and IIFL Securities, while KFin Technologies is the IPO registrar.
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