On September 16, Bajaj Housing Finance made a spectacular debut on the stock exchanges, listing at ₹150 per share—an impressive 114% above its IPO issue price of ₹70. This initial surge pushed the share price to a high of ₹160.92, driving the company’s market capitalization past ₹1.07 lakh crore, more than double the valuation set at the IPO price.
The IPO, which aimed to raise ₹6,560 crore, was met with overwhelming enthusiasm from investors, resulting in a massive oversubscription of ₹3.23 lakh crore. The shares’ listing gains of ₹80 each slightly exceeded the grey market premium (GMP) of ₹75 reported on September 16.
With strong fundamentals and a promising outlook for the housing finance sector, experts suggest that investors should consider holding onto their shares for potential long-term gains. The IPO not only aligns with the Reserve Bank of India’s (RBI) regulations for upper-layer non-banking finance companies (NBFCs) but also enhances Bajaj Housing Finance’s capital base to support future growth.
The company, registered with the National Housing Bank since September 2015, specializes in providing mortgage products including home loans, loans against property, lease rental discounting, and developer financing.
Experts believe that Bajaj Housing Finance’s solid performance and favorable sector conditions could lead to even greater returns in the future. Investors are encouraged to keep their shares for potential long-term benefits.
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