Shares Listing Date and Time: Bajaj Housing Finance shares are set to list on both the NSE and BSE on Monday, 16 September, at 10 am.
IPO Performance and Market Sentiment: The shares are debuting following a stellar performance in the primary market. The IPO saw record-breaking subscription amounts reaching Rs 3.23 lakh crore, driven by robust market sentiment and high retail demand. This subscription figure surpasses 1% of India’s estimated nominal GDP for FY 2023-24, which is Rs 295.36 lakh crore.
GMP and Expected Gains: The Grey Market Premium (GMP) for Bajaj Housing Finance shares has surged to Rs 79 per share, reflecting a premium of 113% over the issue price. This indicates potential significant listing gains for IPO investors.
IPO Details: The IPO, which closed on 11 September, was valued at Rs 6,560 crore, setting a new record for IPO subscriptions, surpassing Coal India’s previous record of Rs 2.36 lakh crore in 2008. Earlier this year, Premier Energies and Tata Technologies also saw high subscription amounts, but Bajaj Housing Finance has outperformed these figures.
Company Background: As the second-largest player in the housing finance sector, Bajaj Housing Finance benefits from its association with its parent company, Bajaj Finance. It offers a range of financial products, including home loans, loans against property, lease rental discounting, and developer financing. The company is classified as an “upper layer” NBFC by the Reserve Bank of India (RBI) and is listed to comply with RBI’s regulations requiring top-tier non-banking finance companies to be listed by September 2025.
Recent Listings: Other housing finance firms like Aadhar Housing Finance and India Shelter Finance have also recently been listed on stock exchanges.
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