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Bajaj IPO Day 2: GMP Soars to 92%, Bids Exceed Offer 2.01x – Check details

Bajaj Housing Finance IPO saw a strong start, with bids surpassing the offer by 2.01 times on day one. The IPO, priced between Rs 66-70, ends on September 11, 2024.
Bajaj IPO Day 2: GMP Soars to 92%, Bids Exceed Offer 2.01x – Check details

Bajaj Housing Finance IPO

The initial public offering (IPO) of Bajaj Housing Finance attracted significant investor interest on its first day, with bids for 146,58,24,030 shares compared to the 72,75,75,756 shares available. By the end of the day, the issue was subscribed 2.01 times, according to NSE data.

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Bajaj Housing Finance IPO Day 1 Subscription Status

On the first day of the Bajaj Housing IPO subscription, Non-Institutional Investors (NIIs) drove strong demand, subscribing 4.35 times the available shares. Retail Individual Investors (RIIs) followed with a 1.50 times subscription, while Qualified Institutional Buyers (QIBs) subscribed at 1.07 times. Meanwhile, the reserved quota for shareholders was oversubscribed by 2.90 times.

The IPO is priced between Rs 66 and Rs 70, with a lot size of 214 shares. The minimum investment required for retail investors is Rs 14,980. The public issue has received positive reviews from several brokerages, including Deven Chokshi Research, InCred Equities, Motilal Oswal, and Swastika Investmart.

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In the grey market, Bajaj Housing Finance shares are trading at a premium of Rs 64, or 91.43%, indicating strong market sentiment. The IPO subscription period ends on September 11, 2024, with allotment expected on September 12, and shares to be credited to demat accounts on September 13. The listing on BSE and NSE is anticipated on September 16, 2024.

Introduction of Bajaj Housing Finance

Bajaj Housing Finance, a prominent name in the financial sector, is managing this IPO with KFin Technologies as the registrar. The book-running lead managers for the issue are Kotak Mahindra Capital, BofA Securities, Axis Capital, Goldman Sachs (India) Securities, SBI Capital Markets, JM Financial, and IIFL Securities.

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