The IPO of Bajaj Housing Finance, a Bajaj Group company, has received a tremendous response on the very first day. The company’s IPO has been full on the very first day. More than double the bets have been placed on the IPO of Bajaj Housing Finance. The company’s shares are also making a splash in the gray market. In the gray market, shares of Bajaj Housing Finance are already trading at a premium of more than 89 percent. The company’s IPO will remain open for subscription till Wednesday, September 11.
GMP of the company’s shares reached above Rs 62
The price of Bajaj Housing Finance shares in the IPO is Rs 70. At the same time, the premium of the company’s shares in the gray market has reached Rs 62.50. The gray market premium (GMP) of Bajaj Housing Finance shares indicates that the company’s shares may be listed above Rs 130. That is, investors who will be allotted shares of the company in the IPO can expect a profit of around 89 percent on the day of listing. The company’s shares will be listed on BSE and NSE on 16 September 2024.
Bets on the company’s IPO more than doubled on the very first day
Bajaj Housing Finance IPO has received 2.26 times bets on its first day. The retail investors’ quota in the company’s IPO has been subscribed 1.79 times. At the same time, the non-institutional investors (NII) category has received 4.71 times subscription. The qualified institutional buyers category in the IPO has received 1.14 times bets. The employees’ quota in Bajaj Housing Finance’s IPO has been subscribed 0.38 times. While the others category has received 3.29 times bets. Retail investors can place bets for a minimum of 1 lot and a maximum of 13 lots in the company’s IPO. That is, retail investors will have to invest Rs 14980 for one lot.
what the company does
Bajaj Housing Finance is a part of the Bajaj Group. It was started in the year 2008. Bajaj Housing Finance is a non-deposit taking housing finance company, which is registered with the National Housing Bank since 2015. The company has been offering mortgage loans since 2018. The company has 215 branches in 174 locations in 20 states and 3 union territories.