New Delhi, 15 September 2024: Bajaj Housing Finance is poised for a significant debut on the stock exchanges, with shares slated to list on the NSE and BSE on Monday, 16 September, at 10 am. The IPO has garnered unprecedented attention, setting the stage for potential substantial gains for investors.
Record-Breaking Subscription Figures
The Bajaj Housing Finance IPO has created waves in the market, with total subscriptions surging to an astonishing Rs 3.23 lakh crore. This remarkable demand surpasses 1% of India’s nominal GDP for the fiscal year 2023-24, which stands at Rs 295.36 lakh crore. The high subscription figure underscores robust investor confidence and strong market sentiment.
Grey Market Premium (GMP) Signals Positive Listing Gains
The Grey Market Premium (GMP) for Bajaj Housing Finance shares has soared to Rs 79 per share, indicating a premium of 113% over the issue price. This GMP suggests that investors can expect significant listing gains when the shares make their debut on the exchanges.
IPO Details and Historical Context
The Rs 6,560 crore IPO, which closed on 11 September, has set a new record in the Indian capital markets, surpassing the previous record held by Coal India’s IPO in 2008, which had seen subscriptions totaling Rs 2.36 lakh crore. This year has witnessed high subscription figures for other IPOs, such as Premier Energies and Tata Technologies, but Bajaj Housing Finance’s IPO has outperformed these by a notable margin.
Company Profile and Market Position
Bajaj Housing Finance, the second-largest player in the housing finance sector, benefits from its association with Bajaj Finance. The company offers a diverse range of financial products, including home loans, loans against property, lease rental discounting, and developer financing. It is classified as an “upper layer” Non-Banking Financial Company (NBFC) by the Reserve Bank of India (RBI) and has listed to comply with RBI regulations requiring top-tier NBFCs to be listed by September 2025.
Recent Developments and Listings
The company joins a growing list of housing finance firms recently listed on the stock exchanges, including Aadhar Housing Finance and India Shelter Finance. These listings reflect a vibrant and evolving market for housing finance companies in India.
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