Bajaj Housing Finance Ltd Shares Skyrocket in Market Debut
Shares of Bajaj Housing Finance Ltd surged by 114.28% on their market debut, listing at Rs 150 against a Rs 70 issue price. The stock peaked at Rs 160.92 on the BSE. Their IPO, which closed with 63.60 times subscription, aimed to comply with RBI regulations, raising Rs 6,560 crore.
- Country:
- India
Shares of Bajaj Housing Finance Ltd made a robust start on the stock market on Monday, listing at a significant premium of 114.28%, against the issue price of Rs 70.
The stock listed at Rs 150 on both the BSE and NSE, and later soared to Rs 160.92 on the BSE, reflecting a surge of 129.88%.
On the NSE, the shares climbed 130% to touch Rs 161. This impressive debut brings the company's market valuation to Rs 1,30,751.90 crore.
Bajaj Housing Finance Ltd's Rs 6,560-crore initial public offering received a remarkable 63.60 times subscription by the end of the bidding period on September 11.
The share sale was conducted to meet RBI regulations, which mandate upper-layer non-banking finance companies to be listed on stock exchanges by September 2025.
Proceeds from the fresh issue will be utilized to bolster the company's capital base for future requirements. The firm, registered with the National Housing Bank in September 2015, offers various mortgage products including home loans and loans against property.
(With inputs from agencies.)
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