 |
|
The highly anticipated Initial Public Offering (IPO) of Bajaj Housing Finance has shattered records in the Indian financial market, drawing an unprecedented level of investor interest. As of 4 PM on the final day of subscription, the issue had been oversubscribed a staggering 66 times, with bids exceeding ₹3 lakh crore – a testament to the robust demand for this promising financial institution. The IPO was originally planned to raise ₹6,560 crore, but after successfully securing ₹1,758 crore through anchor investors, the final IPO size stood at ₹4,802 crore. These figures clearly demonstrate the overwhelming confidence investors have placed in Bajaj Housing Finance's future prospects.
This IPO has surpassed even the previous record set by Tata Technologies in November 2022. The first Tata Group IPO in two decades had received bids worth ₹1.56 lakh crore, significantly lower than the bids attracted by Bajaj Housing Finance. The strong demand for Bajaj Housing Finance's IPO can be attributed to several factors, including the company's solid track record, its dominant position in the housing finance sector, and its growth potential in a rapidly expanding Indian economy. This success is a clear indicator of the growing investor appetite for well-established and promising businesses within the Indian financial landscape.
The IPO witnessed a remarkable response across all categories of investors. The portion reserved for institutional investors, known for their sophisticated analysis and investment strategies, was oversubscribed over 200 times, with bids exceeding ₹2.5 lakh crore. This demonstrates the confidence that major institutional players have in the company's long-term growth potential. Similarly, the non-institutional investor segment, comprising high-net-worth individuals and entities, showed strong interest, with the portion reserved for them oversubscribed by 43.6 times. The retail investor segment, known for its participation in IPOs for potential quick returns, also showed significant interest, oversubscribing their portion by over 7 times. This strong support from all investor segments underlines the widespread belief in Bajaj Housing Finance's ability to deliver value to its shareholders.
Source: Bajaj Housing Finance IPO gets bids worth over ₹3 lakh crore for a ₹6,560 crore issue