Bajaj Housing Finance IPO: The first public offer (IPO) for Bajaj Group company Bajaj Housing Finance Limited with a price over Rs 6,560 crores concluded.
The IPO was a success, receiving 63.60 percent subscriptions. According to NSE information, the bids were made for 46,27,48,43,832 shares, compared to the 72,75,75,756 shares offered within the IPO.
The group comprised of Qualified Institutional Buyers (QIBs) received 209.36 percent more than the number of subscriptions, whereas the non-institutional investor category received 41.50 percent more subscriptions.
Retail individual buyers were enrolled 7.02 times. Before the IPO’s opening, the company collected Rs 1,758 crore from large (anchor) investors on Friday.
Table of Contents
A Premium Of Rs 70
The price for the issue of between Rs 66 and Rs 70 per share was set in the IPO of Bajaj Housing Finance. Its gray market price is 70 rupees.
If you compare it to the upper part of the price of the issue, which is around Rs 70, the price of the stock could be set at 141 rupees.
This indicates a premium that is more than 100 percent.
Expected Date Of Allotment
The estimated date for allocation to Bajaj Housing Finance IPO is 12 September 2024. At this time, investors will be able to determine if they were allotted this IPO and if they have not.
The listing of this IPO is scheduled for 16 September 2024. The company intends to use the funds raised from the IPO to increase its capital stock of business.
The company is hoping to be able to meet the needs of future business operations of the company by these loans and more can be made available.
New Share Worth Rs 3,560 Crore
The IPO comprises a brand new share of up to Rs 3,560 crore, as well as an offer for sale (OFS) of the share valued at Rs 3,000 crores by Bajaj Finance, the parent company.
The sale of shares is in line with the guidelines that are set by the Reserve Bank of India (RBI). In this regard, the top non-banking financial firms must be listed on the markets by September 2025.
Quick Fact
| Company name | Bajaj Housing Finance |
|---|---|
| IPO concluded | ₹6,560 crore |
| Subscription received | 63.60% |
| Total shares offered | 72,75,75,756 |
| Total bids received | 46,27,48,43,832 |
| QIB subscription | 209.36% |
| Non-institutional investor subscription | 41.50% |
| Retail subscription | 7.02% |
| Funds from anchor investors | ₹1,758 crore |
| Issue price range | ₹66 to ₹70 per share |
| Gray market price | ₹70 |
| Possible stock price | ₹141 |
| Premium expected | 100% |
| Possible allotment date | 12 September 2024 |
| IPO listing date | 16 September 2024 |
| New share amount | ₹3,560 crore |
| Offer for sale (OFS) | ₹3,000 crore |
| Parent company | Bajaj Finance |
| Use of funds | Business capital, loans |
| RBI guidelines deadline | September 2025 |
Disclaimer: The website and its content are for informational purposes only and should not be considered investment advice.
 for Bajaj Group company Bajaj Housing Finance Limited with a price over Rs 6,560 crores concluded.){kind=link}