Bajaj Housing Finance IPO: The initial public offering (IPO) of Bajaj Housing Finance Limited of Rs 6560 crore has closed. This IPO has received 63.60 times subscription. According to NSE data, bids were placed for a total of 46,27,48,43,832 shares against the offer of 72,75,75,756 shares in the IPO. The portion of qualified institutional buyers (QIB) got 209.36 times subscription while the category of non-institutional investors got 41.50 times subscription. The category of retail individual investors was subscribed 7.02 times. Let us tell you that before the opening of the IPO, the company had raised Rs 1,758 crore from major (anchor) investors on Friday.
Premium of Rs 71
The issue price for Bajaj Housing Finance’s IPO was fixed at Rs 66-70 per share. Talking about the grey market premium, it is Rs 71. If we compare it with the upper band of the issue price i.e. Rs 70, then the stock can be listed at Rs 141. This shows a premium of more than 100%.
Estimated date of allotment
The estimated date of allotment of Bajaj Housing Finance IPO is 12 September 2024. On this day investors will know whether they have been allotted the IPO or not. The listing of this IPO is expected on 16 September 2024. The company intends to use the money raised from the IPO to increase its capital base. The company wants to meet the future business needs of the company through this and to distribute loans further.
New shares worth Rs 3,560 crore
The IPO includes new shares worth up to Rs 3,560 crore and an offer for sale (OFS) of existing shares worth Rs 3,000 crore by parent company Bajaj Finance. Let us tell you that this share sale is being done to comply with the rules of the Reserve Bank of India (RBI). According to this, leading non-banking financial companies are required to be listed on the stock markets by September 2025.