The Bajaj Housing Finance IPO is in headlines, with over ₹3.2 lakh crore in bids coming making it one of the largest IPO subscriptions. Originally, the company had planned to raise around ₹6,560 crore through a mix of fresh equity sales and an Offer for Sale. The issue got subscribed 63.6 times, with heavy bidding led by non-institutional investors whose portion was subscribed more than 200 times.
Premium in Grey Market Touches 96%
The grey market too reflects the craze for IPO of Bajaj Housing Finance, with its shares trading at ₹67-69 premium per share. This is at a premium of 96% over the issue price, which essentially means pretty strong interest on the part of investors before the stock actually hits the bourses.
Before opening IPO for public subscription, Bajaj Housing Finance raised ₹1,758 crore from influential anchor investors, who included big-hitter financials like JP Morgan, Morgan Stanley, Nomura, and HDFC Mutual Fund .
Strong Financial Performance
Bajaj Housing Finance, for FY24, announced a net profit of ₹1,731 crore - up 38% over last year - while net income jumped 34% to ₹7,618 crore. Encouraged by such promising results, the company is all set to create a dazzling growth story in the housing finance market.
Growth Plans Ahead
The proceeds from the IPO would be utilised to enhance the capital base of the company, who in turn would continue their onward lending programs and grow their market share in the highly competitive housing finance sector. It is to win a permanent place among industry leaders that Bajaj Housing Finance has issued this record-breaking IPO.
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