Bajaj Housing Finance IPO subscribed fully on day 1

9 Sep 2024 , 02:40 PM

Bajaj Housing Finance’s mammoth ₹6,560-crore IPO, which began bidding on Monday, September 9, was completely subscribed in just under four hours. HNIs, or non-institutional affluent investors, had already overrun their reserved allocation, while the retail quota was rapidly approaching full subscription.

Bajaj Housing Finance received a hefty ₹1,758 crore from anchor investors on Friday. The ₹6,560 crore initial share sale will end on September 11.

As of 2:34 pm, the IPO has received bids for more than 87.4 crore shares on the BSE.

Non-institutional investors (NIIs) placed 2.60 times as many subscriptions while Retail Individual Investors (RIIs) placed 1.06 times bids. The QIB portion of the IPO was subscribed 36%. The Employee Reserved portion was subscribed 23%

The IPO has a price band of ₹66 to ₹70 per share for the public issue, which includes a fresh issue of equity shares of up to ₹3,560 crore and an offer-for-sale (OFS) of equity shares worth ₹3,000 crore by parent Bajaj Finance.

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