- Thursday, March 13, 2025
The stock has surged 159.28 per cent from its issue price of ₹70 and it is now the most valued housing finance company in the country
By: Shajil Kumar
SHARES of newly-listed Bajaj Housing Finance Ltd on Tuesday surged 10 per cent to hit the upper circuit limit, extending the listing day gains.
The stock jumped 10 per cent to hit the upper circuit limit of Rs 181.48 on the Bombay Stock Exchange (BSE).
On the National Stock Exchange (NSE), shares of the firm surged 10 per cent to Rs 181.50 – the highest trading permissible limit for the day.
The stock has surged 159.28 per cent from its issue price of ₹70.
Bajaj Housing Finance Ltd remained the most valued housing finance company in the country.
Bullish opening
Shares of Bajaj Housing Finance Ltd made a solid market debut on Monday and ended with a huge premium of nearly 136 per cent against the issue price of Rs 70.
The stock was listed at Rs 150 on the BSE and NSE, reflecting a jump of 114.28 per cent from the issue price.
The ₹65.60 billion initial public offer of Bajaj Housing Finance Ltd received 63.60 times subscription on September 11, the last day of bidding, amid overwhelming participation from institutional buyers.
The Qualified Institutional Buyers part fetched subscribed a staggering 209.36 times while the non-institutional investors quota received 41.50 times subscription.
The category for Retail Individual Investors obtained 7.02 times subscription.
The initial share sale had a price band for the offer at ₹66-70 per share.
The IPO had a fresh issue of equity shares of up to ₹35.60 billion and an offer-for-sale (OFS) of equity shares worth ₹30 billion by parent Bajaj Finance.
It is a non-deposit-taking housing finance company registered with the National Housing Bank in September 2015.
The firm offers financial solutions for purchasing and renovating residential and commercial properties.
RBI norms
It has been identified and categorised as an “upper layer” NBFC by the Reserve Bank of India (RBI), and its comprehensive mortgage products include home loans, loans against property, lease rental discounting and developer financing.
The share sale is being conducted to comply with the RBI’s regulations, which require upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
Kotak Mahindra Capital Company Ltd, BofA Securities India Ltd, SBI Capital Markets Ltd, Goldman Sachs (India) Securities Private Ltd, Axis Capital and JM Financial Ltd are the book-running lead managers to the offer. (PTI)
