The public issue of India’s second-biggest housing finance organization, Bajaj Housing Finance IPO, opened today for public membership. Completely possessed auxiliary of Bajaj Finance plans to raise up to Rs 6,560 crore through the IPO, which has proactively activated Rs 1,758 crore from anchor financial investors in pre-offering, reflecting tremendous early interest.
Bajaj Housing Finance IPO Details
The Bajaj Housing Finance IPO is a new issue of 937,142,858 value shares and a proposal available to be purchased wherein the organization’s advertiser, Bajaj Finance, will offload up to 508,571,429 value imparts to a presumptive worth of Rs 10 each. The cost band for the IPO is Rs 66-70 for each offer, with the base bid parcel being 214 offers, converting into a retail venture of basically Rs 14,980.
The book-running process is being managed by leading financial institutions that include Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities. KFin Technologies has been assigned to be the designated registrar for the public issue. The money raised through the fresh issue would be utilised for augmenting the company’s capital base for lending in the future and expanding its operations, apart from this, public listing will ensure wider visibility of the brand. A part of this shall be utilised to meet offer-related expenses.
Bajaj Housing Finance IPO GMP
On the first day of its opening, Bajaj Housing Finance shares commanded a grey market premium of Rs 55-57 per share reflecting an upside of over 80 percent against the issue price. “Such a strong GMP indicates favorable market sentiment and investor confidence ahead of the company’s stock market debut.
As per the market experts, grey market action is high and many are expecting strong listing gains. Thus, the stock is expected to see a strong debut on both BSE and NSE on September 16, 2024, after the IPO allotment scheduled for September 12.
Bajaj Housing Finance IPO Review
Bajaj Housing Finance is a non-deposit-taking housing finance organization that gives home loan items like home credits, rent rental limiting, and designer funding. An auxiliary of the Bajaj Group, the firm has developed essentially and detailed a net benefit of Rs 1,731 crore for FY24, up 38% YoY.
Most businesses are peppy on the IPO. Emkay Worldwide featured solid parentage, credit score, and the board as head up-sides for Bajaj Housing Finance. SBI Protections said the organization was strategically set up to acquire from the assessed 13-15% development in India’s housing finance area over the following three years. Anand Rathi Exploration fixed the valuation of Bajaj Housing Finance at Rs 560 billion-590 billion. It proceeded to say that the Rs 70 billion fundraising pledges will go about as an impetus for the general re-rating of Bajaj Finance.
Bajaj Housing Finance IPO Listing Price
The IPO of Bajaj Housing Finance shall remain open for public subscription up to Wednesday, September 11, 2024. Post-IPO, the basis of allotment shall be finalised by Thursday, September 12 and shares shall be credited to the demat account of the investors by Friday, September 13. The company’s shares shall start trading formally on stock exchanges from Monday, September 16, 2024.
Key Risks to Consider
Despite such a positive outlook, analysts warned investors that there does exist some potential risk of regulatory changes and key-man risk impacting its future performance. Set up with an excellent brand reputation and strong backing by the Bajaj Group, Bajaj Housing Finance is positioned at retaining an upward trajectory in the competitive housing finance space.
Meanwhile, the company has met regulatory requirements to list as an upper-layer NBFC by September 2025. And the investors have their eyes glued to the IPO of Bajaj Housing Finance and subsequent market flotation.
FAQ:
When was Bajaj Finance IPO launched?
Bajaj Finance IPO was launched on 6 September 2024.
Is Bajaj Housing Finance IPO worth buying?
Keeping in mind the large finance, as well as the brokerage report, it is suggested to be a good opportunity and worth buying.
What is the price band of Bajaj Housing Finance IPO?
Rs.66-70 per share is the price band of Bajaj Housing Finance IPO.
Is Bajaj housing finance good?
Considering it has been rated to be as ‘Subscribe’ by brokerage, it is good.
What is the price of Bajaj IPO shares?
Rs.66-70 per share is the price band of Bajaj Housing Finance IPO.
