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The much-anticipated Bajaj Housing Finance IPO has concluded, with the allotment of shares set to be finalized on Thursday, September 12, 2024. This IPO garnered significant attention due to its record-breaking oversubscription, a testament to the confidence in Bajaj Housing Finance's growth potential and its affiliation with the reputable Bajaj Group. Investors who participated in the IPO can now check their allotment status online through the BSE website or the KFin Technologies portal, using their application number, demat account details, or PAN card.
Bajaj Housing Finance's IPO, valued at Rs 6,560 crore, saw overwhelming demand, receiving bids exceeding Rs 3.24 lakh crore. This unprecedented response underscores the strong investor sentiment towards the company's business model, growth trajectory, and its position within the Bajaj Group. The IPO attracted bids 63.61 times its size, with particularly strong interest from Qualified Institutional Buyers (QIBs) who subscribed 209.36 times the allocated amount. This overwhelming demand has propelled the Grey Market Premium (GMP) to a substantial Rs 78 per share, suggesting a potential listing price of Rs 148, promising a potential return of 111% for investors.
The shares of Bajaj Housing Finance are slated to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Monday, September 16, 2024. The strong investor interest, coupled with the positive Grey Market sentiment, fuels expectations of a robust listing. Brokerage houses such as Chola Securities, IDBI Capital, and Reliance Securities have expressed a 'Subscribe' recommendation for the IPO, citing the company's robust financial performance, its backing by the Bajaj Group, and the promising growth prospects within the housing finance sector. While the IPO appears promising, some caution remains regarding the company's asset concentration within the real estate sector. Nevertheless, the Bajaj Housing Finance IPO presents a potentially lucrative opportunity for investors seeking a strong return, especially if the shares debut at the anticipated premium price.
Source: Bajaj Housing Finance IPO allotment: Check application status and latest GMP