Bajaj Housing IPO Subscribed 3.79 Times on Day 2 So Far

10 Sep 2024 , 12:32 PM

Bajaj Housing Finance’s IPO opened for public subscription on September 9, with a total size of ₹6,560 Crore and a price band of ₹66 – ₹70 per share. The subscription period runs from September 9 to September 11, and share allotment is expected to be finalized on September 12, with listing on the BSE and NSE scheduled for September 16.

On the second day, the IPO was subscribed 3.79 times, with non-institutional investors subscribing 8.74 times and retail investors 2.7 times, at the time of writing.

The IPO has reserved 50% for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for high-net-worth individuals (HNIs).

A shareholder quota of ₹500 Crore is set aside for eligible shareholders of Bajaj Finance and Bajaj Finserv. The company raised ₹1,758 Crore from anchor investors, including the Government of Singapore, Abu Dhabi Investment Authority, Morgan Stanley, and Fidelity.

The IPO comprises a fresh issue of ₹3,560 Crore and an Offer for Sale (OFS) of ₹3,000 Crore by Bajaj Finance, aimed at strengthening Bajaj Housing Finance’s capital base.

Bajaj Housing Finance provides home loans, loans against property, and developer financing, and is classified as an upper-layer NBFC by the RBI. The company recorded a net profit of ₹1,731 Crore for FY24, reflecting 38% growth year-over-year.