2024-09-11 22:32:33
New Delhi: Bajaj Housing Finance Limited’s IPO has received a great response from investors. The issue of Rs 6,560 crore received a 63.60 times subscription on Wednesday, the third and last day of the offer. It received bids of more than Rs 3 lakh crore. According to NSE data, bids were placed for a total of 46,27,48,43,832 shares against the offer of 72,75,75,756 shares in the IPO. The portion of qualified institutional buyers (QIBs) received a subscription of 209.36 times. While the segment of non-institutional investors received a subscription of 41.50 times. The segment of retail individual investors received a subscription of 7.02 times.
The subscription was completed within a few hours of opening of the issue
Bajaj Housing Finance’s initial public offering (IPO) was fully subscribed within a few hours of bidding opening on Monday. The company had raised Rs 1,758 crore from anchor investors on Friday before the issue opened.
The price band for Bajaj Housing Finance’s IPO has been fixed at Rs 66-70 per share. The IPO comprises fresh shares worth up to Rs 3,560 crore and an offer for sale (OFS) of existing shares worth Rs 3,000 crore by parent company Bajaj Finance.
This share sale is being done to comply with the rules of the Reserve Bank of India (RBI). According to this, leading non-banking financial companies are required to be listed on the stock markets by September 2025.
Priced at a premium of 104.29% in the grey market
In the grey market, shares of Bajaj Housing were last seen trading at a premium of 104.29 per cent over its issue price of Rs 70 (upper price band). The stock is likely to be listed on September 16.
Last month, the IPO of Premier Energies Limited received bids of more than Rs 1.48 lakh crore. Earlier in November 2023, the IPO of Tata Technologies Limited received a total bid of Rs 1.56 lakh crore. In 2008, the IPO of Coal India Limited raised bids of Rs 2.33 lakh crore.