The Rs 6,560-crore initial public offer (IPO) of Bajaj Housing Finance received an overwhelming response, with subscriptions totaling Rs 3.23 lakh crore. The listing implies a profit of Rs 17,120 per lot for investors.
Bajaj Housing Finance shares made a strong debut on stock markets on Monday, September 16, listing at Rs 150 per share on both NSE and BSE, with a premium of 114 percent over the IPO issue price. Bajaj Housing Finance shares were allotted to successful IPO bidders on September 13 at an issue price of Rs 70 per share.
Bajaj Housing Finance listing gains of Rs 80 per share were slightly above the stock’s grey market premium. The firm’s shares were trading with a GMP of Rs 75 on the morning of September 16, according to a few platforms that track grey market activity.
With the bumper listing, the market capitalisation of Bajaj Housing Finance climbed above Rs 1.07 lakh crore as the share price hit the day’s high of Rs 160.92. This was more than double the estimated Rs 58,297 crore at the IPO allotment price of Rs 70 per share.