Bajaj Housing Finance shares surge 114% after market debut on September 16, ET RealEstate
NEW DELHI: Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday, listing with a huge premium of 114.28 per cent, against the issue price of Rs 70. The stock got listed at Rs 150 on both the BSE and NSE, reflecting a jump of 114.28 per cent from the issue price.
Later, it zoomed 129.88 per cent to Rs 160.92 on the BSE.
At the NSE, shares of the firm surged 130 per cent to Rs 161.
The company’s market valuation stood at Rs 1,30,751.90 crore.
The Rs 6,560-crore initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.
The initial share sale had a price band for the offer at Rs 66-70 per share.
The IPO had a fresh issue of equity shares of up to Rs 3,560 crore and an offer-for-sale (OFS) of equity shares to the tune of Rs 3,000 crore by parent Bajaj Finance.
In the equity market, the 30-share BSE Sensex climbed 293.4 points to reach a fresh lifetime high of 83,184.34. The NSE Nifty jumped 89.2 points to hit a new record peak of 25,445.70.
The share sale was conducted to comply with the Reserve Bank of India’s (RBI) regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
Proceeds from the fresh issue will be used to augment the company’s capital base to meet future capital requirements.
It is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015.
The firm offers financial solutions for purchasing and renovating residential and commercial properties.
It has been identified and categorised as an “upper layer” NBFC by the RBI in India and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.
