Mumbai: Bajaj Housing Finance is set to make a remarkable entry into the stock markets on Monday, 16 September. The company’s shares will be listed on both the NSE and BSE at 10 am, following an unprecedented subscription surge that has captivated the financial community.
Unprecedented Demand and Subscription Record
The initial public offering (IPO) of Bajaj Housing Finance has achieved a staggering Rs 3.23 lakh crore in subscriptions, breaking records and demonstrating immense investor enthusiasm. This amount represents more than 1% of India’s projected nominal GDP for the fiscal year 2023-24, which totals Rs 295.36 lakh crore. Such an overwhelming response highlights the strong market confidence in the company.
Impressive Grey Market Premium Forecasts Strong Listing Gains
In the grey market, Bajaj Housing Finance shares are trading at a premium of Rs 79 each, reflecting a substantial 113% gain over the issue price. This high GMP is indicative of anticipated robust listing gains and signals a lucrative opportunity for early investors.
IPO Highlights and Historical Context
The IPO, valued at Rs 6,560 crore, closed on 11 September and has set a new benchmark in India’s capital markets. It surpasses the previous record held by Coal India’s 2008 IPO, which garnered Rs 2.36 lakh crore in subscriptions. The performance of Bajaj Housing Finance’s IPO eclipses other high-profile IPOs this year, including those of Premier Energies and Tata Technologies, showcasing unprecedented investor interest.
Company Insights and Market Position
As the second-largest entity in the housing finance sector, Bajaj Housing Finance is well-positioned for future growth. Backed by Bajaj Finance, the company offers a diverse portfolio of products, including home loans, loans against property, lease rental discounting, and developer financing. The IPO is part of a regulatory requirement by the Reserve Bank of India (RBI) for top-tier non-banking financial companies (NBFCs) to list by September 2025.
Recent Listings and Market Trends
The listing of Bajaj Housing Finance adds to the growing trend of housing finance companies entering the stock markets. This includes recent listings like Aadhar Housing Finance and India Shelter Finance, reflecting a dynamic and expanding sector.
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