Bajaj Housing Finance IPO: Historic Bidding And Its Implications

Bajaj Housing Finance IPO: The financial landscape in India is abuzz as the Bajaj Housing Finance IPO creates new market standards. This IPO, with heretofore unseen demand and record numbers data securing it is the talk of the nation. Well, heres an artistic take on the freshest news and how investors should go about this exciting financial development.

Record-Breaking Response: Bajaj Housing Finance IPO Read more »

No Indian issue had elicited a response of this scale ever before and the Bajaj Housing Finance IPO made it possible! These are the numbers that have caught the interest of investors:

Record Bids: The IPO witnessed historic bids of an enormous 46,28,35,82,522 equity shares worth Rs 3.24 lakh crore No IPO in India has hit such astronomical numbers till now from an Indian company. The portion for Qualified Institutional Buyers (QIBs) alone was subscribed 209.36 times, the highest-ever interest from institutional investors on record.

Subscription Rates: Total Subscribed 63.61 times The issue witnessed robust response from non-institutional investors, whose reserved portion was subscribed 41.51 times. Even retail investors and its employees responded in kind with the issuing being subscribed 7.04 times and 2.05 times, respectively to their bids

What Is Grey Market Premium (GMP) And What It Means For Investors?

The Grey Market Premium (GMP) of Bajaj Housing Finance has hiked extensively after the bid. Started off at around Rs 70 per share, now trading up to about Rs 75 translating into a possible listing pop of ~104%. This large premium reflects the market's high expectations and bodes well for future performance once shares begin trading.

Some important IPO Details and Allotment process

The issue was open for bidding from September 9 to 11, with share price range of Rs66-70/share and a lot size of 214 shares. The company had raised Rs 6,560 crore through this offering with a fresh issue of shares amounting to approximately Rs 3,560 crore and an offer-for-sale aggregating up to nearly Rs 3,000 crores by Bajaj Finance.

Allotment Closing Date: The allotments of shares will be finalized on 12th September Messages, alerts or emails debiting the funds of investors in their trading and demat accounts are likely to be sent by Friday.in case they were traded on listing date) It has also informed that it could revoke IPO mandate (if available) during this time only.

Date of listing: Shares are likely to be listed on BSE and NSE tomorrow (Monday, September 16) This means the first day of trading for newly issued shares, which investors are eager to see.

Also Read:- The Waqf Bill: A Surge of Support and What It Means for India's Legislative Landscape

How to check your allotment Status?

Those who have applied for the allotment can check their status. How to do it

Please share what is available on the Bombay Stock Exchange (BSE) Website.

Visit BSE IPO Status.

Issue Type, Equity

Go with ‘Bajaj Housing Fin Ltd' from the dropdown.

Type in the application number and PAN card ID.

Proceed to next page by clicking on I am not a Robot and hit submit.

On KFin Technologies Portal:

Visit the KFin Technologies IPO Status page.

From the drop-down menu, choose IPO (as soon as allotment is done).

Select Application Number OR Demat Account Number OR PAN ID.

Choose the right application type (ASBA/non-ASBA).

Fill the captcha for security, enter all required details.

Submit and see the status.

Company Insight & Analyst perspective

Having been incorporated in 2008, Bajaj Housing Finance has made a stamp for itself and is now registered with the National Housing Bank (NHB) as well; also being under the umbrella of an already trusted brand like the Bajaj Group. So far, analysts remain positive about the IPO given its strong parentage, high market share and expansion potential. [nLHNSFTBYY] But the strategy has raised concerns about overexposing into one asset and real estate.

Key Players and Management

The initial public offering (IPO) is being managed by leading financial services companies BofA Securities India, Axis Capital Ltd., Kotak Mahindra Capital Company Limited, Goldman Sachs (India) Securities Private Limited, SBI Capital Markets and JM Financial. KFin Technologies is the registrar of this IPO and is responsible for offering processes & Investor services.

Conclusion

Blowing the creativity of stock markets, Bajaj Housing Finance IPO benchmark rate made a significant entry with its historic amount embedded and overwhelming tendency among investors. The market headline will soon be this issue — as the day of allotment finalization edges near, expectations would soar on stock exchanges for its listing. So, as a seasoned investor or one who is new to the market- knowing and getting prepared helps you make your way through this exciting financial event.

Share your thoughts, experiences on Bajaj Housing Finance IPO in the comments!