Bajaj Housing Finance Share Listing: Diversified NBFC Bajaj Housing Finance’s Rs 6,560 crore public issue closed with a subscription of over Rs 3 lakh crore. Due to the tremendous response received to the IPO, the subscription records of Nykaa and Coal India IPOs were broken. Nykaa’s IPO came in November 2021 and received bids of over Rs 2.43 lakh crore. Coal India IPO came in the year 2008 and received a subscription of Rs 2.36 lakh crore. Zomato’s IPO, which came in July 2021, received a subscription of over Rs 2 lakh crore.
Now all eyes are on the listing of Bajaj Housing Finance shares on BSE and NSE on September 16. It is expected that investors’ money can double on the day of listing. According to investorgain.com, in the gray market, Bajaj Housing Finance shares are trading at a premium of Rs 81 or 115.71 percent over the IPO’s upper price band of Rs 70. On this basis, the shares can be listed at a price of Rs 151. The gray market is an unauthorized market, where the shares of a company trade till its listing.
How much subscription from which category
Bajaj Housing Finance IPO was subscribed 67.43 times overall. The portion reserved for qualified institutional buyers was subscribed 222 times, the portion reserved for non-institutional investors was subscribed 43.98 times and the portion reserved for retail investors was subscribed 7.41 times. The portion reserved for employees received a subscription of 2.13 times.
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What do experts say
Prashant Tapase of Mehta Equities advises to opt for profit booking on Bajaj Housing Finance’s listing in the market if the listing gains exceed market expectations. However, he also suggests that long-term investors can hold the stock for long-term growth as the sector outlook remains very optimistic given the company’s well-established business model. The housing sector will continue to perform well over the next 3-4 years and Bajaj Housing can take advantage of the opportunity to lead this sector.
How will the money raised from the IPO be used?
Bajaj Housing Finance offers finance to individuals as well as corporate entities for the purchase and renovation of homes or commercial spaces. The company will use the proceeds from the issuance of new shares in its IPO to increase its capital base. Bajaj Housing Finance is a subsidiary of Bajaj Finance. Shares of Bajaj Finserv and Bajaj Finance closed with a gain of 2 per cent on September 13.
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