Bajaj Housing Finance is set to finalize its share allotment on Thursday, September 12. Investors will receive notifications via SMS, email, or alerts about the debit of funds or revocation of their IPO mandates by Friday or over the weekend. This IPO saw overwhelming investor response during its three-day bidding window from September 9 to September 11.
Key Highlights:
- Price Band & Lot Size: Shares were offered in a price band of Rs 66-70 per share with a lot size of 214 shares.
- Fundraising: Bajaj Housing Finance raised Rs 6,560 crore through its IPO, which included Rs 3,560 crore from fresh share sales and Rs 3,000 crore through an offer for sale by Bajaj Finance.
- Oversubscription: The IPO was oversubscribed 63.61 times in total. The quota for qualified institutional buyers (QIBs) saw the highest subscription at 209.36 times, while non-institutional investors subscribed 41.51 times. The retail, shareholder, and employee quotas were subscribed 7.04, 17.53, and 2.05 times, respectively.
Historic Bidding
Bajaj Housing Finance set a record as the first Indian IPO to fetch bids worth over Rs 3 lakh crore, attracting bids for 46.28 billion equity shares, amounting to Rs 3.24 lakh crore. The QIB portion alone received bids for over 37.17 billion shares, worth more than Rs 2.60 lakh crore.
Grey Market Premium (GMP)
Following the record-breaking bidding, the grey market premium (GMP) for Bajaj Housing Finance surged to Rs 75 per share, indicating a potential listing gain of around 104%. Earlier, the GMP stood at Rs 70 per share when the bidding closed.
Company Background
Incorporated in 2008, Bajaj Housing Finance is a non-deposit-taking housing finance company (HFC) registered with the National Housing Bank (NHB) since 2015. It began offering mortgage loans in FY18 and is part of the diversified Bajaj Group.
Positive Broker Recommendations
Most brokerages have recommended subscribing to the IPO, citing the company’s solid parentage, strong market position, reasonable funding costs, and growth potential. However, some concerns about asset concentration and real estate exposure remain.
Key Dates:
- Allotment Date: September 12, 2024
- Listing Date: Likely on September 16, 2024 (BSE & NSE)
How to Check Bajaj Housing Finance IPO Allotment Status:
Via BSE Website:
- Visit BSE IPO Allotment Status.
- Select “Equity” under the issue type.
- Choose “Bajaj Housing Finance Ltd” from the dropdown menu.
- Enter your application number and PAN card ID.
- Verify the captcha and submit.
Via KFin Technologies Portal:
- Visit KFin IPO Allotment Status.
- Select the IPO in the dropdown (it will appear after allotment is finalized).
- Choose either the application number, Demat account number, or PAN ID.
- Fill in the required details and verify the captcha.
- Submit to view your allotment status.
Investors are advised to consult financial advisors for any investment decisions.