The Bajaj Housing Finance IPO opened for public subscription on September 9, with shares priced between ₹66 and ₹70. By 3:39 pm on the first day, the IPO was 1.54 times subscribed, with bids for 105,48,29,326 shares against 68,60,00,009 shares offered. The IPO is available from September 9 to 11, with share allotment expected on September 12 and listing on September 16.
The allocation is divided as follows: 50% for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for high-net-worth individuals (HNWIs). An additional ₹500 crore worth of shares is reserved for eligible shareholders of Bajaj Finance and Bajaj Finserv.
The grey market premium (GMP) for the IPO is ₹58.5, indicating an expected listing gain of around 83.57%. Analysts from Anand Rathi and InCred Equities have recommended subscribing to the IPO, citing potential benefits from the capital raise and positive market sentiment.
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The IPO includes a fresh issue of equity shares up to ₹3,560 crore and an offer-for-sale (OFS) of up to ₹3,000 crore by Bajaj Finance. The proceeds will strengthen the company’s capital base to support future growth. For the fiscal year 2023-24, Bajaj Housing Finance reported a 38% increase in net profit, reaching ₹1,731 crore.