Bajaj Housing Finance Limited launched its initial public offering (IPO) on September 9, aiming to raise ₹6,560 crore. The issue, which will close on September 11, has set a price band between ₹66-70. The company has already secured ₹1,758 crore from anchor investors and has reserved specific portions for various investor categories, including a special quota for shareholders.
The IPO was subscribed 2.26 times by the end of Day 1 and 8.08 times by the end of Day 2
The IPO consists of a fresh issue of 50.86 crore shares, aggregating to ₹3,560 crore, and an offer for sale of 42.86 crore shares, totaling ₹3,000 crore. The proceeds from the fresh issue will be used to strengthen the company’s capital base to support future lending operations.
Retail investors can apply with a minimum lot size of 214 shares, requiring an investment of ₹14,980. In terms of allocation, 50% of the shares in the public issue are reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and at least 35% is earmarked for retail investors.
The allotment for the IPO is expected to be finalized on Thursday, September 12, 2024, with a tentative listing date on the BSE and NSE set for Monday, September 16, 2024.
Bajaj Housing Finance IPO Live Updates: Here’s what GMP hints ahead of Day 3 subscription
The IPO’s grey market premium (GMP) today is ₹70 per share, indicating an expected listing price of ₹140, a premium of 100 percent from its issue price of ₹70. The GMP has been the same since the last session, September 10, but jumped from ₹64 on September 9.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
