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Bajaj Housing Finance Listing: Bajaj Housing Finance is all set to make its debut on the stock exchanges next Monday, September 16, following an extraordinary performance in the primary market. The company’s initial public offering (IPO) garnered a staggering Rs 3.23 lakh crore in total subscription, marking a new record for India’s capital markets.
The IPO’s success, driven by robust market sentiment and significant demand from the retail segment, saw the subscription amount exceed 1 per cent of India’s nominal GDP, which stands at Rs 295.36 lakh crore for FY23-24.
Shares of Bajaj Housing Finance will be listed on both the BSE and the National Stock Exchange (NSE) at 10 AM on Monday. Ahead of the listing, the grey market premium (GMP) for the shares has surged to Rs 79 per share, signalling a 113 per cent premium over the issue price.
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The Rs 6,560 crore IPO, which concluded on September 11, surpassed the previous subscription record held by Coal India, reflecting strong investor interest. Bajaj Housing Finance, India’s second-largest housing finance player, is backed by its parent company, Bajaj Finance, and has a well-diversified product portfolio, a quality asset base, and stable profitability. The company’s limited exposure to high-risk assets also contributed to investor confidence.
The IPO was conducted in compliance with the Reserve Bank of India’s (RBI) mandate, which requires large non-banking financial companies (NBFCs) to be listed on stock exchanges by September 2025. The funds raised will bolster Bajaj Housing Finance’s capital base to support its future growth plans. Aadhar Housing Finance and India Shelter Finance are the two housing finance companies that have been listed on the stock exchanges in recent months.
Leading financial institutions, including Kotak Mahindra Capital, BofA Securities India, SBI Capital Markets, Goldman Sachs (India) Securities, Axis Capital, and JM Financial, were the book-running lead managers for the IPO.
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