Cash News
Bajaj Housing Finance IPO allotment was finalised on September 12 and the listing will likely take place on NSE and BSE on September 16. If the shares are not allotted to you, then you can wait for the refund, which will be initiated today.
Bajaj Housing Finance IPO GMP
The company’s shares were fetching a premium of more than 105% in the grey market. It is an unofficial place where shares trade illegally ahead of listing.
Bajaj Housing Finance IPO Details
The IPO, which was opened to investors on September 09, stopped taking bids from September 11. The company raised Rs 6,560 crore through a combination of fresh shares and offer for sale. The company kept the IPO price band between Rs 66 to Rs 70 per equity share. A retail buyer had to bid for a minimum of 214 shares or one lot, which amounted to Rs 14,980.
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Expert’s take on the IPO
Bajaj Housing Finance plans to diversify and strengthen its market presence with strategic customer focus and comprehensive risk management to capitalize on the future opportunity of increased mortgage penetration, said Master Capital Services in an IPO note.
“The company’s Omni-channel sourcing strategy, strong geographic presence, and distribution reach enable it to acquire a large volume of customers every year and it plans to optimize its borrowing costs by diversifying its borrowing profile. The company also intends to leverage technology and analytics to enhance productivity, reduce expenses, improve customer experience, and manage risks. Investors looking to invest can invest in the IPO for the medium to long term,” said the brokerage house.
BRLMs and Registrar
A whole army of merchant bankers came to manage the issue of Bajaj Housing Finance. A total of seven merchant bankers were the book-runners of the issue. Kotak Mahindra Capital Company, BoFA Securities India, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities were the book-running lead managers of the IPO. Kfin Technologies handled the work of the registrar for the issue.