Business

Bajaj Housing Finance Stock Soars 114% Over Issue Price on Dalal Street Debut

Bajaj Housing Finance made a remarkable stock market debut on Monday, with shares listing at Rs 150 on the NSE, reflecting a massive 114.29% premium over the issue price of Rs 70. On the BSE, the stock also opened with a 116% premium.

The strong listing surpassed market expectations, which were based on the grey market premium (GMP) of Rs 73-75 per share, indicating a potential listing gain of 104-105%. Before the IPO, the GMP had reached as high as Rs 84 per share, fueled by robust investor demand during the bidding period.

As of now, Bajaj Housing Finance shares are trading at Rs 160.82 on the NSE, up by Rs 10.82 or 7.21%.

IPO Performance and GMP
Before the stock’s listing, Bajaj Housing Finance shares were trading at a GMP of 120% over the issue price of Rs 70, signaling a potential gain of Rs 77 per share. The IPO was open for subscription from September 9 to 11, with shares priced between Rs 66-70 per share, and a lot size of 214 shares. Bajaj Housing Finance raised Rs 6,560 crore through the IPO, which included a fresh issue of Rs 3,560 crore and an offer-for-sale (OFS) worth Rs 3,000 crore by Bajaj Finance.

Oversubscription and Record-Breaking Demand
The IPO received an overwhelming response, being oversubscribed 63.61 times. The qualified institutional buyers (QIBs) portion saw an astounding 209.36 times oversubscription, while non-institutional investors (NIIs) bid 41.51 times their allocated shares. Retail investors subscribed 7.04 times, shareholders 17.53 times, and employees 2.05 times.

Bajaj Housing Finance’s IPO set a record as the first Indian IPO to attract bids worth Rs 3 lakh crore, with a total of 46.28 billion shares bid for, valued at Rs 3.24 lakh crore. The QIB segment alone saw bids worth over Rs 2.60 lakh crore.

Swimmi Srivastava

**Swimmi Shrivastava** Swimmi Shrivastava is a seasoned journalist with extensive experience across diverse beats, including politics, elections, civic affairs, water resources, power sector, and more. Currently serving as a Senior Sub-Editor at *The Daily Guardian*, she is renowned for her insightful news reports, engaging blogs, and thought-provoking articles. An alumnus of Delhi University, Swimmi further honed her journalistic expertise by earning a diploma in Print Media Journalism from Bharatiya Vidya Bhavan. With a sharp eye for detail and a commitment to impactful storytelling.

Recent Posts

Metformin: A Diabetes Drug That May Help Prevent Skin Cancer

Metformin, the widely prescribed drug for managing type 2 diabetes, has recently gained attention for…

21 minutes ago

Wildfire Smoke 10 Times More Toxic Than Pollution, Stanford Report Reveals

California wildfires leave destruction in their wake, with Stanford experts warning of the underestimated dangers…

28 minutes ago

Kenya’s Minister Justin Muturi Speaks Out on Son’s Abduction

Report of Kenya's child abduction shows around 44 percent of child has been abducted between…

30 minutes ago

Woman Slams Rs. 77,000 Restaurant Bill, Calls Pricing Unfair

A woman in Perth received a Rs. 77,268 bill after dining at Canton Lane, with…

40 minutes ago

Global Experts Redefine Obesity: A New Approach Beyond BMI for Better Care

The debate surrounding obesity as a disease has been one of the most controversial and…

43 minutes ago

Kangana Ranaut’s Emergency Banned in Bangladesh Ahead of January Release

Kangana Ranaut’s Emergency, set for a January 17 release, has been banned in Bangladesh amid…

46 minutes ago