Bajaj Housing Finance’s IPO attracted an astonishing ₹3.24 lakh crore in bids for 46.28 crore shares, making it the most successful Indian public offering ever
Bajaj Housing Finance’s Initial Public Offering (IPO) has made headlines with its record-breaking demand, and the allotment process is set to be finalized today, September 12, 2024. This public offering, which aimed to raise ₹6,560 crore, has attracted an astonishing ₹3.2 lakh crore in bids, marking a historic moment in Indian capital markets.s
The IPO, which was open for bidding from September 9 to September 11, saw an overwhelming subscription rate of 67.43 times overall. Notably, the Qualified Institutional Buyers (QIBs) segment was subscribed 222 times, while retail investors and non-institutional investors subscribed 7.41 times and 43.98 times, respectively. This massive interest has positioned Bajaj Housing Finance as a highly anticipated listing, with shares expected to debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 16, 2024.
Investors are particularly excited about the Grey Market Premium (GMP), which has surged to approximately ₹78, indicating a potential listing price of around ₹148 per share—an impressive 111.43% gain from the upper price band of ₹70. This strong demand is further bolstered by the company’s robust financial performance, with a net profit of ₹482.61 crore reported in Q1 FY25.
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To check the allotment status, investors can follow these steps:
Through the BSE website:
- Visit the BSE website.
- Click on ‘Equity’.
- Select ‘Bajaj Housing Finance Limited’ from the dropdown list.
- Enter your application number and PAN card details.
- Complete the CAPTCHA and submit.
Through Kfin Technologies:
- Visit the Kfin Technologies website.
- Select ‘Bajaj Housing Finance Limited’.
- Choose to check via Application Number, Demat Account, or PAN.
- Enter the necessary details and complete the CAPTCHA.
- Click ‘SUBMIT’ to view your allotment status.
With the allotment process concluding today, investors are eagerly anticipating the shares’ listing, driven by the positive outlook from several brokerages recommending the IPO as a strong investment opportunity. As Bajaj Housing Finance continues to solidify its position in India’s growing housing finance sector, all eyes will be on the stock market for its debut next week.