Bajaj Housing Finance shares list at 114% premium over issue price #IndiaFinance

Bajaj Housing Finance shares made a strong debut on stock markets today after pre-listing indicative price was at ₹150 per share on both NSE and BSE- a premium of 114 per cent over the IPO issue price. The company – the second-biggest home loan financier in the country by assets under management (AUM) and the hottest float this year – attracted bids worth about $38.60 billion last week.

Ahead of the listing, the company’s shares traded with a GMP of 120% to the issue price. The ₹6,560 crore IPO of Bajaj Housing Finance was subscribed nearly 67 times the shares on offer.

Net proceeds from the IPO will be used by the company to address future business needs related to onward lending, it said.

Master Capital Services on the IPO, “Investors should consider a medium- to long-term investment in Bajaj Housing Finance due to its strong growth, extensive presence in the housing finance industry, reputable group and management heritage, and competitive valuation compared to peers.”