Bajaj Housing Finance IPO: Issue Subscribed 7.50 Times on Day 2

                Bajaj Housing Finance IPO GMP soars: The 
unlisted shares of Bajaj Housing Finance 
continue to maintain a robust grey market 
premium on the final day of its IPO bidding, 
underscoring strong investor appetite. The 
shares are trading at a premium of Rs 70, a 
100 per cent premium over the IPO's upper 
price band of Rs 70, as per sources tracking 
grey 
market activities. Moreover, today's grey 
market premium has risen by Rs 7, from Rs 64 
on Monday, September 9, 2024, when the IPO 
subscription opened, indicating sustained 
momentum.  
The Bajaj Housing Finance IPO, which ends 
today, has so far received an overwhelming 
response from investors, with the public issue 
being subscribed 7.50 times by the second day 
of subscription. According to NSE data, the 
public issue of Bajaj Housing Finance received 
bids for 5,45,85,77,822 shares against 
72,75,75,756 shares offered. 
Non-Institutional Investors (NIIs) bid the 
highest at 16.45 times for the Bajaj Housing 
Finance IPO, followed by Qualified Institutional 
Buyers (QIBs) at 7.46 times and Retail 
Individual 
Investors (RIIs) at 3.83 times. Meanwhile, the 
quota reserved for shareholders received 9.54 
times subscription by Tuesday, September 10, 
2024.
The public issue of Bajaj Housing Finance arm 
has received positive reviews from several 
noted brokerages, including Deven Chokshi 
Research, InCred Equities, Motilal Oswal, and 
Swastika Investmart.
At the upper end, Bajaj Housing Finance seeks 
to raise Rs 6,560 crore from the issue, offering 
a fresh issue of 937,142,858 shares worth 
around Rs 6,560 crore, as well as an offer for 
sale of up to 508,571,429 shares of the 
company with a face value of Rs 10 apiece.
The Bajaj Housing Finance IPO is available at a 
price band of Rs 66-70 with a lot size of 214 
shares. Accordingly, investors can bid for a 
minimum of 214 shares and in multiples 
thereof.
KFin Technologies is the registrar for the Bajaj 
Housing Finance IPO, while Kotak Mahindra 
Capital, BofA Securities, Axis Capital, Goldman 
Sachs (India) Securities, SBI Capital 
Markets, JM Financial, and IIFL Securities are 
the book-running lead managers of the public 
issue.
Following the closure of the subscription 
window, the allotment of Bajaj Housing 
Finance IPO shares is likely to be finalised on 
Thursday, September 12, 2024, and the 
company's 
shares will be credited to demat accounts on 
Friday, September 13, 2024.
Bajaj Housing Finance
Bajaj Housing Finance Ltd (BHFL), formerly 
known as Bajaj Financial Solutions Ltd, was 
incorporated as a subsidiary of Bajaj Finserv 
Ltd (BFS) on June 13, 2008. The company was 
acquired by Bajaj Finance Ltd (BFL) as a 
wholly-owned subsidiary from Bajaj Finserv on 
November 1, 2014, with the intent to conduct 
housing finance business through a dedicated 
subsidiary. The company's name was changed 
to Bajaj Housing Finance on November 14, 
2014.

Source : Business Standard