Bajaj Housing IPO sets new record
The IPO of Bajaj Housing Finance, a Bajaj Group company that offers home loans, opened on Monday, September 9. The highlight of this IPO was that within just 4 hours of its opening, all the shares of the company were sold, as many as it had offered. Thus, the IPO of the company was fully subscribed within a few hours. It now remains to be seen how far it will go when it closes on September 11.
The IPO size of Bajaj Housing Finance is Rs 6,750 crore. Of this, the company has already raised around Rs 1,758 crore from anchor investors. For this IPO, the company has kept the share price between Rs 66 and Rs 70.
all shares sold
The company received bids for Rs 85.20 crore shares even before 2.30 pm, while the company had invited bids for only 72.75 crore shares. Looking at the category-wise, there has been 2.53 times subscription in the non-institutional investors category. While in the retail investors segment, 1.03 times subscription has been seen.
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There has been less subscription in the Qualified Institutional Buyers category with only bids received for 6.41 crore shares. While the company had offered 17.75 crore shares in this category.
What new album will be made?
There are still 2 more days left for the IPO of Bajaj Housing Finance to close. In such a situation, it is to be seen to what extent there is oversubscription for the company’s initial public offering. In this IPO, the company has issued new shares worth Rs 3,560 crore. Whereas, shares worth Rs 3,000 crore have been placed in the ‘Offer for Sale’ (OFS). The shares of the company will start trading in the market on the upcoming Monday, September 16.
The company’s shares are already trading at a premium in the grey market. Its grey market premium (Bajaj Housing Finance GMP) has crossed Rs 59. Thus, its listing price is shown to be around Rs 129. This shows a growth of 85 percent compared to the IPO.
