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Bajaj Housing Finance shares debut with 114% premium

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Synopsis:

Bajaj Housing Finance shares made a strong debut, opening at ₹150, a 114% premium over the IPO price. With an IPO subscription of 67.43 times, the listing reflects strong demand. Trading began at 10:00 IST in the B Group of Securities.

Bajaj Housing Finance Share Price Latest News Today

Bajaj Housing Finance made an impressive debut on the stock market today, with its shares opening at ₹150 per share, a 114% premium over its initial public offering (IPO) price. This sharp rise demonstrates robust investor confidence in the company's future prospects, as well as a strong market sentiment for its growth potential.

Bajaj Housing Finance Share Price Latest Updates

Bajaj Housing Finance Limited had an outstanding market debut, with the IPO listing at a remarkable 114% premium. As a prominent player in the Indian housing finance sector, BHFL has quickly attracted significant investor attention. By 12:50 PM, the stock was trading at ₹165.00, marking an impressive 135.71% increase on its first day of trading. Bajaj Housing Finance is well-regarded for its commitment to providing affordable and flexible home loan options, serving a diverse customer base.

Stellar listing performance

The Bajaj Housing Finance shares were listed at 10:00 IST in the Special Pre-open Session (SPOS) and began trading shortly after on the Bombay Stock Exchange (BSE). The listing price of ₹150 per share, significantly higher than the IPO price, signals strong demand and positive anticipation among investors.

The stock is part of the 'B' Group of Securities, and its initial performance suggests that market conditions, paired with the company’s solid business fundamentals, contributed to the enthusiastic response from investors.

Strong IPO subscription

Bajaj Housing Finance's IPO, which opened on September 9 and closed on September 11, 2024, received overwhelming interest from various investor categories. According to data from the BSE, the IPO was oversubscribed by 67.43 times by the final day. Notably, non-institutional investors (NIIs) subscribed 43.98 times, while qualified institutional buyers (QIBs) bid 209.36 times, reflecting a high level of institutional interest. Retail investors also showed strong participation, with their portion subscribed 7.41 times.

Additionally, the employee and shareholder portions of the IPO were oversubscribed by 2.13 times and 17.53 times, respectively, highlighting broad-based interest across investor categories.

Purpose of the share offering

Bajaj Housing Finance raised ₹3,000 crore through an offer for sale (OFS) by its parent company, Bajaj Finance, and ₹3,560 crore through a fresh issue of equity shares. The proceeds from the fresh issue will be used to strengthen the company’s capital base and meet future capital requirements as it continues to grow.

The share listing also complies with the Reserve Bank of India's (RBI) directive requiring higher-layer non-banking financial companies (NBFCs) to be listed on stock exchanges by September 2025.

Bajaj Housing Finance’s strong market debut, coupled with its impressive IPO subscription figures, reflects strong investor confidence in the company’s growth potential. The sharp premium over the IPO price highlights favourable market conditions and a positive outlook for the Bajaj Housing Finance share price going forward.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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