Bajaj Housing Finance IPO Sees Overwhelming Subscription

The Rs 6,560-crore IPO of Bajaj Housing Finance Ltd was 63.60 times subscribed, driven by strong demand from institutional buyers. The Qualified Institutional Buyers category was subscribed 209.36 times, non-institutional investors 41.50 times, and retail individual investors 7.02 times. Proceeds from the IPO will support future capital requirements.

The Rs 6,560-crore initial public offering (IPO) of Bajaj Housing Finance Ltd witnessed a phenomenal 63.60 times subscription on the final bidding day.

The IPO received bids for 46,27,48,43,832 shares against 72,75,75,756 shares available, as per NSE data. The Qualified Institutional Buyers (QIBs) segment saw a massive 209.36 times subscription, while the non-institutional investors category garnered 41.50 times subscriptions. Retail Individual Investors (RIIs) acquired a 7.02 times subscription rate.

According to the Reserve Bank of India (RBI) regulations, the proceeds from this IPO, which includes a fresh issue of Rs 3,560 crores and an offer-for-sale by Bajaj Finance amounting to Rs 3,000 crores, will be utilized to bolster the company's capital base and comply with RBI's listing requirements for upper-layer non-banking finance companies.

The firm, registered as a non-deposit taking housing finance company with the National Housing Bank since 2015, offers a range of mortgage products including home loans, loans against property, lease rental discounting, and developer financing.

(With inputs from agencies.)