September 16, 2024
New Delhi, India
IPO
Bajaj Housing Finance made a remarkable debut on the stock market, with shares listing at ₹150 per share on both the NSE and BSE on September 16, a premium of 114% over the IPO price of ₹70. The listing delivered multibagger returns to investors, with a profit of ₹17,120 per lot. Bajaj Housing Finance shares were allocated to successful bidders on September 13.
IPO Highlights:
- Listing Price: ₹150 per share
- Issue Price: ₹70 per share
- Premium: 114%
- Day’s High: ₹160.92 per share
- Market Cap: ₹1.07 lakh crore
- Grey Market Premium (GMP): ₹75
Bajaj Housing Finance raised ₹6,560 crore through its IPO, which saw a record-breaking subscription of ₹3.23 lakh crore, 63.61 times the number of shares on offer. The IPO price band was set at ₹66-₹70, with the company offering 50.86 crore fresh equity shares and a 42.86 crore share offer-for-sale.
The strong demand for the IPO and the high GMP signaled a successful listing, and market experts anticipated significant gains, which were realized with the stock’s stellar performance.
Lead Managers: Kotak Mahindra Capital, Axis Capital, BofA Securities, Goldman Sachs, JM Financial, SBI Capital Markets, IIFL Securities
Registrar: Kfin Technologies
Key Takeaways:
- Bajaj Housing Finance IPO was one of the most successful IPOs of the year.
- Shares doubled in value upon listing, delivering multibagger returns to investors.
- Market analysts had expected a strong debut, backed by the IPO’s high demand and strong fundamentals.
Disclaimer:
CurrencyVeda provides this news article for informational purposes only. We do not offer investment advice or recommendations. Before making any investment decisions, please conduct thorough research, consult with financial experts, and carefully consider your financial situation, risk tolerance, and investment goals. Investing in the stock market carries risks, and it’s essential to make informed choices based on your individual circumstances. CurrencyVeda is not liable for any actions taken based on the information provided in this article.